Mn alloy prices hedges up amid high Mn ore prices in Europe

BEIJING (Asian Metal) 19 Oct 07 –With manganese ore prices hedging up, manganese alloy prices are beginning to firm due to production cost. Within a week in Europe, medium carbon ferromanganese has seen an increase of EURO20-50/t, firming at EURO1, 670-1,700/t d.Asian Metal Copyrightp.Asian Metal Copyrightd.Asian Metal Copyright Material supply is very tight at the moment.Asian Metal Copyrightp.Asian Metal Copyright “The market is quiet now as Steel works are closed for the quarter until end of December when they will be back to the market,” the source aired.Asian Metal Copyright Material supply is very tight at the moment.Asian Metal Copyright with 20days payment for 6014 grade he purchased in July.Asian Metal Copyright Meanwhile, SiMn and HC FeMn are not left out of the party as they are showing signs of upward movement.
 
A producer source informed that silicomanganese price is moving up, he sold 500-1000t yesterday at EURO1, 150/t ex-works for 65/17 prompt delivery with prepayment The source gained EURO50/t as against the last deal, which was in the beginning of this quarter. He expects further hike in price due to scarcity of raw material (Manganese ore), presently he bought from non-traditional suppliers because their traditional suppliers cannot meet their needs.Asian Metal CopyrightBEIJING Asian Metal 19 Oct 07 –With manganese ore prices hedging up, manganese alloy prices are beginning to firm due to production cost.Asian Metal Copyright He also said price in U.Asian Metal Copyright He also said price in U.Asian Metal CopyrightS.Asian Metal Copyright Within a week in Europe, medium carbon ferromanganese has seen an increase of EURO20-50t, firming at EURO1, 670-1,700t d.Asian Metal CopyrightA is going up as it is USD0.85/lb as against USD0.80/lb in warehouse Pittsburgh for 65/17 SiMn.
 
A trader source informed that medium carbon ferromanganese price is up compared to last week; he sold some materials at EURO1, 670/t d.d.Asian Metal Copyrightp.Asian Metal Copyrightp. with delivery during this quarter and 30days payment terms, an increased of about EURO20/t.Asian Metal Copyright Added, Ukraine material is too expensive and too good for the market as the grade is 6818, so need to be mixture before sales.Asian Metal Copyright He emphasized demand is strong and there is no much material around so price might still move up.
 
Another trader source also confirmed he sold a truckload of medium carbon ferromanganese at EURO1,700/t higher than last week price of EURO1,650/t in warehouse Rotterdam,  and added that price is very firm due to limited material in the market.
 
A third trader source informed that he sold silicomanganese at EURO1,000/t d.d.Asian Metal Copyright He said his concern now is antidumping duty, as he wants to buy material, received offers from India at USD1, 350t CIF Italy for 6014 but thinks it is too high.Asian Metal Copyrightp. with 20days payment for 60/14 grade he purchased in July. He said his concern now is antidumping duty, as he wants to buy material, received offers from India at USD1, 350/t CIF Italy for 60/14 but thinks it is too high.Asian Metal CopyrightA producer source informed that silicomanganese price is moving up, he sold 500-1000t yesterday at EURO1, 150t ex-works for 6517 prompt delivery with prepayment The source gained EURO50t as against the last deal, which was in the beginning of this quarter.Asian Metal Copyright “The market is quiet now as Steel works are closed for the quarter until end of December when they will be back to the market,” the source aired. Added, Ukraine material is too expensive and too good for the market as the grade is 68/18, so need to be mixture before sales.