Chinese Gabonese manganese ore prices drop
2023-03-16 08:35:27 [Print]
BEIJING (Asian Metal) 16 Mar 23 - Given the decreased prices from overseas suppliers and downstream clients' inactive purchase activities, most Chinese suppliers of Gabonese manganese ore decrease their prices. Hence, the current prevailing prices of Gabonese ore Mn 44%min Fe 6%max Si 6%max P 0.13%max stand at RMB42-43/dmtu (USD6.11-6.25/dmtu) at Tianjin port, decreased by RMB1/dmtu (USD0.14/dmtu) from the beginning of this week. As most end consumers purchase from hand to mouth, insiders believe that the prevailing prices of Gabonese manganese ore in China would edge down in the following days.
A trader in North China disclosed that they offer RMB43/dmtu (USD6.25/dmtu) for Gabonese ore Mn 44%min Fe 6%max Si 6%max P 0.13%max at Tianjin port and could accept the counter offer of RMB42.5/dmtu (USD6.18/dmtu) today. The trader quoted RMB43.5/dmtu (USD6.33/dmtu) with concessions of no more than RMB0.5/dmtu (USD0.07/dmtu) early this week. The trader failed to receive new order today and last sold 500t at RMB43.5/dmtu (USD6.33/dmtu) late last week. Because of the weak demand, the trader intends to decrease their price further and thinks that the mainstream prices of Gabonese manganese ore in China would move down next week.
The trader, based on a regular monthly trading volume of about 4,000t of Gabonese manganese ore, estimates to sell about 3,000t this month, unchanged from last month. They currently have around 5,000t of inventory.
Another trader in North China stated, "We currently quote RMB43.5/dmtu (USD6.33/dmtu) for Gabonese ore Mn44%min Fe6%max Si6%max P0.13%max at Tianjin port and we could consider the price as low as RMB43/dmtu (USD6.25/dmtu), while we offered RMB44/dmtu (USD6.40/dmtu) with the concession as much as RMB0.5/dmtu (USD0.07/dmtu) at the beginning of this week. The trader disclosed that they received no inquiry today and last sold 3,000t at RMB44/dmtu (USD6.40/dmtu) mid last week. As the market still stays in a low position, the trade intends to cut their quotation and predicts the prevailing prices of Gabonese manganese ore in China would decrease further in the coming days.
With a typical monthly trading volume of about 20,000t of manganese ore, the supplier estimates to sell nearly 20,000t this month, unchanged from the previous month. The trader holds about 30,000t of stocks now.
A trader in North China disclosed that they offer RMB43/dmtu (USD6.25/dmtu) for Gabonese ore Mn 44%min Fe 6%max Si 6%max P 0.13%max at Tianjin port and could accept the counter offer of RMB42.5/dmtu (USD6.18/dmtu) today. The trader quoted RMB43.5/dmtu (USD6.33/dmtu) with concessions of no more than RMB0.5/dmtu (USD0.07/dmtu) early this week. The trader failed to receive new order today and last sold 500t at RMB43.5/dmtu (USD6.33/dmtu) late last week. Because of the weak demand, the trader intends to decrease their price further and thinks that the mainstream prices of Gabonese manganese ore in China would move down next week.
The trader, based on a regular monthly trading volume of about 4,000t of Gabonese manganese ore, estimates to sell about 3,000t this month, unchanged from last month. They currently have around 5,000t of inventory.
Another trader in North China stated, "We currently quote RMB43.5/dmtu (USD6.33/dmtu) for Gabonese ore Mn44%min Fe6%max Si6%max P0.13%max at Tianjin port and we could consider the price as low as RMB43/dmtu (USD6.25/dmtu), while we offered RMB44/dmtu (USD6.40/dmtu) with the concession as much as RMB0.5/dmtu (USD0.07/dmtu) at the beginning of this week. The trader disclosed that they received no inquiry today and last sold 3,000t at RMB44/dmtu (USD6.40/dmtu) mid last week. As the market still stays in a low position, the trade intends to cut their quotation and predicts the prevailing prices of Gabonese manganese ore in China would decrease further in the coming days.
With a typical monthly trading volume of about 20,000t of manganese ore, the supplier estimates to sell nearly 20,000t this month, unchanged from the previous month. The trader holds about 30,000t of stocks now.
