Chinese Gabonese manganese ore market runs slow
2023-03-30 08:28:17 [Print]
BEIJING (Asian Metal) 30 Mar 23 - As most downstream clients purchase cautiously and have no intentions to build inventories, most suppliers of Gabonese manganese ore in China intend to decrease their prices to promote sales in the following days. Currently, the prevailing prices of Gabonese ore Mn 44%min Fe 6%max Si 6%max P 0.13%max hover at RMB41-42/dmtu (USD5.94-6.09/dmtu) at Tianjin port, unchanged from early this week. Considering the soft demand, insiders believe that the mainstream prices of Gabonese manganese ore in China would edge down in the coming days.
A trader in North China stated, "We could not receive new orders for more than a week and most of our regular clients decrease their purchase volume this month". They currently offer RMB41.5/dmtu (USD6.02/dmtu) for Gabonese ore Mn 44%min Fe 6%max Si 6%max P 0.13%max at Tianjin port and could accept the concession as much as RMB0.5/dmtu (USD0.07/dmtu), in line with early this week. The trader received no inquiry today and last sold 1,000t at RMB42/dmtu (USD6.09/dmtu) early last week. In view of the sluggish demand, the trader prefers to decline their price and believes that the mainstream prices of Gabonese manganese ore in China would move down next week.
With a regular monthly trading volume of approximately 8,000t of Gabonese manganese ore, the trader sold about 5,000t this month, down by about 3,000t from the previous month given the weak demand. They have around 10,000t of stocks now.
Another trader in North China mentioned that their clients purchased inactively these two weeks and only purchased from hand to mouth at present. The trader stated, "Our current quotation for Gabonese ore Mn44%min Fe6%max Si6%max P0.13%max at Tianjin port stays at RMB42/dmtu (USD6.09/dmtu) with concessions of no more than RMB0.5/dmtu (USD0.07/dmtu), on par with early this week. The trader refused a client who bid RMB40.5/dmtu (USD5.87/dmtu) for 1,000t and they last sold 2,000t at RMB42/dmtu (USD6.09/dmtu) late last week. Considering the soft demand, the trade intends to decrease their prices and expects that the mainstream prices of Gabonese manganese ore in China would move down in the upcoming days.
Based on a typical monthly sales volume of about 15,000t of manganese ore, the trader sold around 10,000t this month, decreased by around 5,000t from last month due to the weak demand. They hold around 25,000t of stocks currently.
A trader in North China stated, "We could not receive new orders for more than a week and most of our regular clients decrease their purchase volume this month". They currently offer RMB41.5/dmtu (USD6.02/dmtu) for Gabonese ore Mn 44%min Fe 6%max Si 6%max P 0.13%max at Tianjin port and could accept the concession as much as RMB0.5/dmtu (USD0.07/dmtu), in line with early this week. The trader received no inquiry today and last sold 1,000t at RMB42/dmtu (USD6.09/dmtu) early last week. In view of the sluggish demand, the trader prefers to decline their price and believes that the mainstream prices of Gabonese manganese ore in China would move down next week.
With a regular monthly trading volume of approximately 8,000t of Gabonese manganese ore, the trader sold about 5,000t this month, down by about 3,000t from the previous month given the weak demand. They have around 10,000t of stocks now.
Another trader in North China mentioned that their clients purchased inactively these two weeks and only purchased from hand to mouth at present. The trader stated, "Our current quotation for Gabonese ore Mn44%min Fe6%max Si6%max P0.13%max at Tianjin port stays at RMB42/dmtu (USD6.09/dmtu) with concessions of no more than RMB0.5/dmtu (USD0.07/dmtu), on par with early this week. The trader refused a client who bid RMB40.5/dmtu (USD5.87/dmtu) for 1,000t and they last sold 2,000t at RMB42/dmtu (USD6.09/dmtu) late last week. Considering the soft demand, the trade intends to decrease their prices and expects that the mainstream prices of Gabonese manganese ore in China would move down in the upcoming days.
Based on a typical monthly sales volume of about 15,000t of manganese ore, the trader sold around 10,000t this month, decreased by around 5,000t from last month due to the weak demand. They hold around 25,000t of stocks currently.
