Small deals starts in Chinese manganese ore market
2005-06-23 09:31:06 【Print】
BEIJING (Asian Metal) 23 Jun 05 - With the Chinese manganese ore market remaining quiet last month, small deals have started to be concluded recently, trader sources reported to Asian Metal.
A trader in Lianyungang reported several small deals concluded these days, though large deals are unexpected. The source said, “Quantities are only a few hundred tons for each deal.” The trader reported RMB1,400/t ex ports concluded for Mn ore 40%.
Chinese consumers are still reluctant to buy materials as major suppliers hesitate to lower prices any further.
“We won’t accept prices higher than RMB35/mtu for high grade manganese ore,” said a major consumer in South China. “Manganese alloy prices have touched production cost level, and manganese ore suppliers ought to share the loss with us.”
Meanwhile, some suppliers plan to decrease offers, while other major suppliers keep watching the market without publicizing quotations. "The market won't stay quiet too long, as the third quarter is coming," predicted an insider.
A trader in Lianyungang reported several small deals concluded these days, though large deals are unexpected. The source said, “Quantities are only a few hundred tons for each deal.” The trader reported RMB1,400/t ex ports concluded for Mn ore 40%.
Chinese consumers are still reluctant to buy materials as major suppliers hesitate to lower prices any further.
“We won’t accept prices higher than RMB35/mtu for high grade manganese ore,” said a major consumer in South China. “Manganese alloy prices have touched production cost level, and manganese ore suppliers ought to share the loss with us.”
Meanwhile, some suppliers plan to decrease offers, while other major suppliers keep watching the market without publicizing quotations. "The market won't stay quiet too long, as the third quarter is coming," predicted an insider.
