Chinese Gabonese manganese ore market witnesses few deals
2023-03-08 08:33:17 [Print]
BEIJING (Asian Metal) 8 Mar 23 - As most end consumers refused to accept high manganese prices and only purchased from hand to mouth, most Chinese suppliers of Gabonese manganese ore keep their prices unchanged currently but have intentions to cut prices in the following days. Currently, the mainstream prices of Gabonese ore Mn 44%min, Fe 6%max, Si 6%max, P 0.13%max stand at RMB44.5-45.5/dmtu (USD6.42-6.56/dmtu) at Tianjin port, unchanged from late last week. Considering that the downstream clients stay in no hurry to purchase, insiders believe that the mainstream prices of Gabonese manganese ore in China would move down slightly this week.
A trader in Tianjin mentioned, "Our clients planned to purchase from hand to mouth at present and we only sold 1,000t in total in February as the clients could not accept the high prices". The trader currently quotes RMB46/dmtu (USD6.63/dmtu) for Gabonese ore Mn44%min, Fe6%max, Si6%max, P0.13%max at Tianjin port and they could consider the price as low as RMB45/dmtu (USD6.49/dmtu), on par with the end of last week. The trader received no order this week and last sold 500t at RMB45.5/dmtu (USD6.56/dmtu) early last week. Given the soft demand, the trader plans to decrease their quotation and believes that the mainstream prices of Gabonese manganese ore in China would edge down this week.
The trader, based on the monthly sales volume of about 3,000t of Gabonese manganese ore, estimates to sell around 1,000t in March, in line with that in February. They have nearly 2,000t of stocks at the moment.
Another trader in Tianjin noted that their clients started to purchase from hand to mouth and hold a watchful attitude to the market and they failed to receive new orders in the past two weeks. The trader disclosed, "We quote RMB45.5/dmtu (USD6.92/dmtu) for Gabonese ore Mn44%min, Fe6%max, Si6%max, P0.13%max at Tianjin port today and we could consider the counteroffer as much as RMB0.5/dmtu (USD0.07/dmtu), unchanged from late last week". The trader failed to receive an inquiry this week and last sold 1,000t at RMB45/dmtu (USD6.49/dmtu) early last week. Given the decreased prices from overseas suppliers and the soft demand, the trader intends to decline their prices and believes that the mainstream prices of Gabonese manganese ore in China would edge down in the following days.
With the typical monthly trading volume of around 6,000t of manganese ore, the trader estimates to sell approximately 5,000t this month, in line with last month. The trader currently has about 15,000t of stocks.
A trader in Tianjin mentioned, "Our clients planned to purchase from hand to mouth at present and we only sold 1,000t in total in February as the clients could not accept the high prices". The trader currently quotes RMB46/dmtu (USD6.63/dmtu) for Gabonese ore Mn44%min, Fe6%max, Si6%max, P0.13%max at Tianjin port and they could consider the price as low as RMB45/dmtu (USD6.49/dmtu), on par with the end of last week. The trader received no order this week and last sold 500t at RMB45.5/dmtu (USD6.56/dmtu) early last week. Given the soft demand, the trader plans to decrease their quotation and believes that the mainstream prices of Gabonese manganese ore in China would edge down this week.
The trader, based on the monthly sales volume of about 3,000t of Gabonese manganese ore, estimates to sell around 1,000t in March, in line with that in February. They have nearly 2,000t of stocks at the moment.
Another trader in Tianjin noted that their clients started to purchase from hand to mouth and hold a watchful attitude to the market and they failed to receive new orders in the past two weeks. The trader disclosed, "We quote RMB45.5/dmtu (USD6.92/dmtu) for Gabonese ore Mn44%min, Fe6%max, Si6%max, P0.13%max at Tianjin port today and we could consider the counteroffer as much as RMB0.5/dmtu (USD0.07/dmtu), unchanged from late last week". The trader failed to receive an inquiry this week and last sold 1,000t at RMB45/dmtu (USD6.49/dmtu) early last week. Given the decreased prices from overseas suppliers and the soft demand, the trader intends to decline their prices and believes that the mainstream prices of Gabonese manganese ore in China would edge down in the following days.
With the typical monthly trading volume of around 6,000t of manganese ore, the trader estimates to sell approximately 5,000t this month, in line with last month. The trader currently has about 15,000t of stocks.
