1 Sep 08 - Manganese market remains dull in the last week of August. Sources reported to Asian Metal that with the supply slightly recovering, manganese price starts to slide down while demand in both domestic and foreign markets keeps weak for the moment.
ASome domestic traders are about to replenish some stocks before the consumers enter the market but they refused to accept the higher prices of around RMB20,800/t (USD3,045/t) ex works. So some suppliers have to accept lower prices once they are in need of cash for turnover. More deals are concluded at relatively lower prices of around RMB20,600/t ex works. Some buyers claimed that they managed to purchase some material in the week at much lower prices of around RMB20,400/t ex works from suppliers who could still enjoy some profits and on top of that, some smelters have to reduce their stocks as they fail to conclude many deals for September.
Manganese demand keeps weak for the moment. Many foreign and domestic consumers still have some materials at hand purchased before the Olympics. And the consumers are still not satisfactory at current price level of around USD3,900/t FOB and RMB20,600/t (USD3,016/t) ex works while demand of stainless steel is also low and the profits are very low. There are some bids reported this week in Europe and South Asia but the price is not attracting at all at below USD3,900/t FOB. Some small deals were concluded during the week at prices of around USD3,950/t FOB but most exporters failed to get such a good price. Many of them are willing to sell at the price of USD3,900/t FOB but received no reply from the foreign buyers. Manganese briquette price is around USD3,400-3,450/t FOB in the week and the price might decrease slightly with manganese price falling in domestic market.
Manganese flakes price is around USD4,000-4,100/t in warehouse Rotterdam in the week with demand remains sluggish. More consumers and traders are interested in manganese briquette but they are in no hurry to purchase at the moment while the overall market trend is softening.
The price floor in some major Customs remains high at around USD3,900/t FOB for manganese flakes and USD4,000/t FOB for manganese ingot. Some exporters who concluded deals before August failed to get through the Customs smoothly and have to pay extra tax due to the high price floor, which adds to the export cost and reduces the profits.
ASome domestic traders are about to replenish some stocks before the consumers enter the market but they refused to accept the higher prices of around RMB20,800/t (USD3,045/t) ex works. So some suppliers have to accept lower prices once they are in need of cash for turnover. More deals are concluded at relatively lower prices of around RMB20,600/t ex works. Some buyers claimed that they managed to purchase some material in the week at much lower prices of around RMB20,400/t ex works from suppliers who could still enjoy some profits and on top of that, some smelters have to reduce their stocks as they fail to conclude many deals for September.
Manganese demand keeps weak for the moment. Many foreign and domestic consumers still have some materials at hand purchased before the Olympics. And the consumers are still not satisfactory at current price level of around USD3,900/t FOB and RMB20,600/t (USD3,016/t) ex works while demand of stainless steel is also low and the profits are very low. There are some bids reported this week in Europe and South Asia but the price is not attracting at all at below USD3,900/t FOB. Some small deals were concluded during the week at prices of around USD3,950/t FOB but most exporters failed to get such a good price. Many of them are willing to sell at the price of USD3,900/t FOB but received no reply from the foreign buyers. Manganese briquette price is around USD3,400-3,450/t FOB in the week and the price might decrease slightly with manganese price falling in domestic market.
Manganese flakes price is around USD4,000-4,100/t in warehouse Rotterdam in the week with demand remains sluggish. More consumers and traders are interested in manganese briquette but they are in no hurry to purchase at the moment while the overall market trend is softening.
The price floor in some major Customs remains high at around USD3,900/t FOB for manganese flakes and USD4,000/t FOB for manganese ingot. Some exporters who concluded deals before August failed to get through the Customs smoothly and have to pay extra tax due to the high price floor, which adds to the export cost and reduces the profits.
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