7 Aug 08 - Manganese price slightly rises with the supply decreasing in domestic market. And sources reported to Asian Metal that demand from downstream processing industry is strong, which pushes the suppliers to offer higher prices.
A Hunan-based smelter told Asian Metal that they are offering RMB21,000/t (USD3,066/t) ex works but deals are concluded at around RMB20,400-20,600/t (USD2,978-3,036/t) ex works. "Actually, many suppliers still keep some stocks at hand but are reluctant to sell at the moment," said the source who claimed that manganese market is at the lowest level in summer and suppliers expect the market could rebound late this month with more consumers back in both domestic and foreign markets.
However, the source is not quite optimistic about the future market as the stainless steel market is also low this year. "No one is sure whether the market would be active late this month or early next month," said the source who claimed that the manganese production in Jishou is relatively normal and the tight supply may ease with more smelters gradually resuming production. The source reported that their smelter in Guizhou just resumed the other production line and they are running at full capacity of 1,000tpm.
Another Hunan-based smelter has already booked out the output this month. "We will have to delay new deals till early September," said the source who claimed that many domestic suppliers have not much material at hand and some others with some stocks are pushing the price up from current RMB20,500/t (USD2,993/t) ex works. The source claimed that the market is relatively stable at the moment but may recover after the Olympics so the suppliers are not so eager to release their stocks.
However, the source claimed that as most foreign buyers are still absent from the market, demand remains weak. "Thus some suppliers lowered their offers to USD3,900-3,950/t FOB to attract deals," said the source who puts their offer at around USD4,000-4,050/t CIF Rotterdam.
A Hunan-based smelter told Asian Metal that they are offering RMB21,000/t (USD3,066/t) ex works but deals are concluded at around RMB20,400-20,600/t (USD2,978-3,036/t) ex works. "Actually, many suppliers still keep some stocks at hand but are reluctant to sell at the moment," said the source who claimed that manganese market is at the lowest level in summer and suppliers expect the market could rebound late this month with more consumers back in both domestic and foreign markets.
However, the source is not quite optimistic about the future market as the stainless steel market is also low this year. "No one is sure whether the market would be active late this month or early next month," said the source who claimed that the manganese production in Jishou is relatively normal and the tight supply may ease with more smelters gradually resuming production. The source reported that their smelter in Guizhou just resumed the other production line and they are running at full capacity of 1,000tpm.
Another Hunan-based smelter has already booked out the output this month. "We will have to delay new deals till early September," said the source who claimed that many domestic suppliers have not much material at hand and some others with some stocks are pushing the price up from current RMB20,500/t (USD2,993/t) ex works. The source claimed that the market is relatively stable at the moment but may recover after the Olympics so the suppliers are not so eager to release their stocks.
However, the source claimed that as most foreign buyers are still absent from the market, demand remains weak. "Thus some suppliers lowered their offers to USD3,900-3,950/t FOB to attract deals," said the source who puts their offer at around USD4,000-4,050/t CIF Rotterdam.
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