Manganese market is quiet with few buyers purchasing at the moment. Sources claimed that there are still many inquiries but the buyers are reluctant to purchase at current prices.
AsA Hunan-based trader told Asian Metal that the market has been quiet though they can still receive some inquiries. "Currently, most Chienese suppliers have already lowered their offers to RMB20,500/t (USD2,988/t) ex works," said the source who claimed that due to the tightening supply of raw materials, more suppliers are reluctant to sell at lower prices.
The source expects manganese market to rebound late this month or early next month when he belives more buyers would return form vacation. However, the source is not quite optimistic as the overall market is on the downward trend. "The market is more stagnant compared with that last year," said the source who revealed that the export price is around USD3,900-3,950/t FOB but the foreign buyers are still pressing the price down.
Another Hunan-based supplier just received an inquiry of about USD3,850/t CFR Buenos Ares. "The price is too low for us to accept," said the source who still offers USD4,000/t FOB. The source claimed that many exporters have lowered their offers to USD3,900/t FOB to attract deals. "Demand at the moment is so weak that many of them are losing confidence." The source expects more buyers back to purchase early next month and they want to watch for some while.
The source also claimed that manganese production at the moment is influenced by the tight supply of power and raw materials. "The production is abnormal. Thus manganese supply is not quite sufficient in some areas."
AsA Hunan-based trader told Asian Metal that the market has been quiet though they can still receive some inquiries. "Currently, most Chienese suppliers have already lowered their offers to RMB20,500/t (USD2,988/t) ex works," said the source who claimed that due to the tightening supply of raw materials, more suppliers are reluctant to sell at lower prices.
The source expects manganese market to rebound late this month or early next month when he belives more buyers would return form vacation. However, the source is not quite optimistic as the overall market is on the downward trend. "The market is more stagnant compared with that last year," said the source who revealed that the export price is around USD3,900-3,950/t FOB but the foreign buyers are still pressing the price down.
Another Hunan-based supplier just received an inquiry of about USD3,850/t CFR Buenos Ares. "The price is too low for us to accept," said the source who still offers USD4,000/t FOB. The source claimed that many exporters have lowered their offers to USD3,900/t FOB to attract deals. "Demand at the moment is so weak that many of them are losing confidence." The source expects more buyers back to purchase early next month and they want to watch for some while.
The source also claimed that manganese production at the moment is influenced by the tight supply of power and raw materials. "The production is abnormal. Thus manganese supply is not quite sufficient in some areas."
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