Mn flake price seems going 'crazy' in Europe
2007-02-27 10:24:03 【Print】
BEIJING (Asian Metal) 27 Feb 07- Going by the speculations on the market before the Chinese New Year holidays that manganese metal price would drop after the break, the market defiles all speculations and continues to go wide. Meanwhile, market participants are complaining of Chinese suppliers failing to redeem contract.
A trader source in Europe informed that manganese flake price is very firm now and there is limited material available in the warehouse, he got offers last week around USD2, 120/t in warehouse Rotterdam for 66t of manganese flake. He tried to trade the offer back to back but did not materialized.
Another trader source informed that Chinese suppliers are not fulfilling contracts as a result, there is no material and this has kept prices up and even increasing. He claimed to have sold some small quantities of 5,10t, etc of manganese flakes in the range of USD2, 400-2,500/t delivered to plant.
Meanwhile, offers from China are still high and with the look of things, the price increase is yet to see end of the day.
A trader source in Europe informed that manganese flake price is very firm now and there is limited material available in the warehouse, he got offers last week around USD2, 120/t in warehouse Rotterdam for 66t of manganese flake. He tried to trade the offer back to back but did not materialized.
Another trader source informed that Chinese suppliers are not fulfilling contracts as a result, there is no material and this has kept prices up and even increasing. He claimed to have sold some small quantities of 5,10t, etc of manganese flakes in the range of USD2, 400-2,500/t delivered to plant.
Meanwhile, offers from China are still high and with the look of things, the price increase is yet to see end of the day.
