Chinese manganese ore traders watch the market
2024-03-29 08:25:30 [Print]
BEIJING (Asian Metal) 29 Mar 24 - Chinese manganese ore traders hold a wait-and-see attitude towards the market, as domestic demand stays sluggish. The current mainstream prices of Gabonese manganese ore 44%min at Qinzhou port stand at RMB35-36/dmtu (USD4.8-5.0/dmtu). Insiders predict that the price will remain in the next week.
A trader in South China disclosed that currently they quote RMB35.5/dmtu (USD4.9/dmtu) for Gabonese manganese ore 44%min, and do not accept the sales price lower than RMB35/dmtu (USD4.8/dmtu). Their latest order was in the last week, when they sold 3,000t at RMB35/dmtu (USD4.8/dmtu). In early March, they sold around 2,500t at RMB36/dmtu (USD5.0/dmtu). As the import cost remains strong, and the demand from downstream smelters in China stays weak, the trader expects the prices to stay at the current level in the coming days.
The trader estimates to sell 9,000t this month, down from 20,000t in February. They hold 2,000t inventory at present.
Another trader in South China revealed that in the past two weeks, they received inquiries at around RMB34.9/dmtu (USD4.8/dmtu), but did not close any deal. Their last order was two weeks ago, when they sold 5,000t at RMB35.7/dmtu (USD4.9/dmtu). The trader thinks the prices of Gabonese manganese ore 44%min at Qinzhou port would remain in the next few days, and have the chance to increase by around RMB0.3/dmtu (USD0.04/dmtu) over the coming week. "For now we would keep the stocks and don't rush to sell," said the trader.
With a monthly trading volume of 60,000t, the trader now holds over 10,000t inventory.
A trader in South China disclosed that currently they quote RMB35.5/dmtu (USD4.9/dmtu) for Gabonese manganese ore 44%min, and do not accept the sales price lower than RMB35/dmtu (USD4.8/dmtu). Their latest order was in the last week, when they sold 3,000t at RMB35/dmtu (USD4.8/dmtu). In early March, they sold around 2,500t at RMB36/dmtu (USD5.0/dmtu). As the import cost remains strong, and the demand from downstream smelters in China stays weak, the trader expects the prices to stay at the current level in the coming days.
The trader estimates to sell 9,000t this month, down from 20,000t in February. They hold 2,000t inventory at present.
Another trader in South China revealed that in the past two weeks, they received inquiries at around RMB34.9/dmtu (USD4.8/dmtu), but did not close any deal. Their last order was two weeks ago, when they sold 5,000t at RMB35.7/dmtu (USD4.9/dmtu). The trader thinks the prices of Gabonese manganese ore 44%min at Qinzhou port would remain in the next few days, and have the chance to increase by around RMB0.3/dmtu (USD0.04/dmtu) over the coming week. "For now we would keep the stocks and don't rush to sell," said the trader.
With a monthly trading volume of 60,000t, the trader now holds over 10,000t inventory.
