Chinese Gabonese manganese ore prices drop
2023-03-23 08:31:30 [Print]
BEIJING (Asian Metal) 23 Mar 23 - Considering that the market saw a weak demand, most suppliers of Gabonese manganese ore in China decrease their prices slightly to promote sales. Currently, the mainstream prices of Gabonese ore Mn 44%min Fe 6%max Si 6%max P 0.13%max hover at RMB41.5-42.5/dmtu (USD6.02-6.17/dmtu) at Tianjin port, down by RMB0.5/dmtu (USD0.07/dmtu) from late last week. Because of the high prices from overseas suppliers despite the sluggish demand, insiders expect that the prevailing prices of Gabonese manganese ore in China would stay flat this week.
A trader in North China stated, "We offer RMB42.5/dmtu (USD6.17/dmtu) for Gabonese ore Mn 44%min Fe 6%max Si 6%max P 0.13%max at Tianjin port today and we could consider concessions of no more than RMB0.5/dmtu (USD0.07/dmtu), while we refused to accept any counteroffer at the end of last week". The trader received an inquiry of 500t at RMB42/dmtu (USD6.09/dmtu) today and they think they could close the deal tomorrow. They last sold 500t at RMB42.5/dmtu (USD6.17/dmtu) late last week. Based on the high prices from overseas suppliers, the trader plans to firm their price and believes that the mainstream prices of Gabonese manganese ore in China would stay unchanged in the coming days.
With a regular monthly sales volume of nearly 10,000t of Gabonese manganese ore, the trader estimates to sell nearly 8,000t this month, decreased by about 2,000t from last month due to the sluggish demand. The trader holds around 25,000t of stocks now.
Another trader in North China noticed that their quotation for Gabonese ore Mn44%min Fe6%max Si6%max P0.13%max at Tianjin port stands at RMB42/dmtu (USD6.09/dmtu) today and they could consider the discount as much as RMB0.5/dmtu (USD0.07/dmtu), while they quoted RMB42/dmtu (USD6.09/dmtu) without concession late last week. The trader revealed that they received no inquiry today and last sold 500t at RMB42/dmtu (USD6.09/dmtu) early this week. Given the limited inventory and the high prices from overseas suppliers, the trade plans to keep their price at the current level and believes that the mainstream prices of Gabonese manganese ore in China would remain stable in the following days.
Based on a regular monthly trading volume of about 3,000t of manganese ore, the trader estimates to sell about 2,000t in March, down by around 1,000t from that in February given the soft downstream demand. They have around 1,000t of inventory at the moment.
A trader in North China stated, "We offer RMB42.5/dmtu (USD6.17/dmtu) for Gabonese ore Mn 44%min Fe 6%max Si 6%max P 0.13%max at Tianjin port today and we could consider concessions of no more than RMB0.5/dmtu (USD0.07/dmtu), while we refused to accept any counteroffer at the end of last week". The trader received an inquiry of 500t at RMB42/dmtu (USD6.09/dmtu) today and they think they could close the deal tomorrow. They last sold 500t at RMB42.5/dmtu (USD6.17/dmtu) late last week. Based on the high prices from overseas suppliers, the trader plans to firm their price and believes that the mainstream prices of Gabonese manganese ore in China would stay unchanged in the coming days.
With a regular monthly sales volume of nearly 10,000t of Gabonese manganese ore, the trader estimates to sell nearly 8,000t this month, decreased by about 2,000t from last month due to the sluggish demand. The trader holds around 25,000t of stocks now.
Another trader in North China noticed that their quotation for Gabonese ore Mn44%min Fe6%max Si6%max P0.13%max at Tianjin port stands at RMB42/dmtu (USD6.09/dmtu) today and they could consider the discount as much as RMB0.5/dmtu (USD0.07/dmtu), while they quoted RMB42/dmtu (USD6.09/dmtu) without concession late last week. The trader revealed that they received no inquiry today and last sold 500t at RMB42/dmtu (USD6.09/dmtu) early this week. Given the limited inventory and the high prices from overseas suppliers, the trade plans to keep their price at the current level and believes that the mainstream prices of Gabonese manganese ore in China would remain stable in the following days.
Based on a regular monthly trading volume of about 3,000t of manganese ore, the trader estimates to sell about 2,000t in March, down by around 1,000t from that in February given the soft downstream demand. They have around 1,000t of inventory at the moment.
