Chinese manganese ore traders reluctant to sell
2024-04-12 09:31:53 [Print]
BEIJING (Asian Metal) 12 Apr 24 - Seeing the momentum of price increase, traders of manganese ore in China curb their selling and watch the market. The current mainstream prices of Gabonese ore 44%min at Tianjin port move up to RMB35.1-36.1/dmtu (USD4.85-4.99/dmtu), RMB0.2/dmtu (USD0.03/dmtu) higher than last week. Traders hold a wait-and-see attitude towards the market prospect.
A trader in Tianjin revealed that now they quote higher at RMB39/dmtu (USD5.39/dmtu) for Gabonese manganese ore 44%min at Tianjin port, with no concession. This week they received inquiries at RMB38.5/dmtu (USD5.32/dmtu), but did not close any deal. Their latest deal was closed two weeks ago, when they sold 6,000t at RMB35.3/dmtu (USD5.32/dmtu). "As the import cost remains strong, and quoting prices climb sharply in this week, we expect the current price level to maintain in the next few days," said the trader. They now plan to hold their stocks and wait for a good deal.
The trader estimates to sell 5,000t this month, unchanged from that in March. They now hold around 30,000t of inventory.
Another trader in Beijing disclosed that their current quoting price for Gabonese manganese ore 44%min at Tianjin port is RMB38.5/dmtu (USD5.32/dmtu), up from RMB35.5/dmtu (USD4.91/dmtu) at the beginning of April. Earlier this week, they refused inquiries at RMB37.5/dmtu (USD5.18/dmtu). Their latest deal dates back to last week, when they sold 3,000t at RMB35.5/dmtu (USD4.91/dmtu). By then, the price still held steady from that in mid March, when they sold around 4,000t at RMB35.4/dmtu (USD 4.89/dmtu). The trader now closely watches the market, and expects the prices stay at the high level in the forthcoming week.
With a monthly trading volume of around 25,000t, the trader keeps more than 20,000t of inventory at present.
A trader in Tianjin revealed that now they quote higher at RMB39/dmtu (USD5.39/dmtu) for Gabonese manganese ore 44%min at Tianjin port, with no concession. This week they received inquiries at RMB38.5/dmtu (USD5.32/dmtu), but did not close any deal. Their latest deal was closed two weeks ago, when they sold 6,000t at RMB35.3/dmtu (USD5.32/dmtu). "As the import cost remains strong, and quoting prices climb sharply in this week, we expect the current price level to maintain in the next few days," said the trader. They now plan to hold their stocks and wait for a good deal.
The trader estimates to sell 5,000t this month, unchanged from that in March. They now hold around 30,000t of inventory.
Another trader in Beijing disclosed that their current quoting price for Gabonese manganese ore 44%min at Tianjin port is RMB38.5/dmtu (USD5.32/dmtu), up from RMB35.5/dmtu (USD4.91/dmtu) at the beginning of April. Earlier this week, they refused inquiries at RMB37.5/dmtu (USD5.18/dmtu). Their latest deal dates back to last week, when they sold 3,000t at RMB35.5/dmtu (USD4.91/dmtu). By then, the price still held steady from that in mid March, when they sold around 4,000t at RMB35.4/dmtu (USD 4.89/dmtu). The trader now closely watches the market, and expects the prices stay at the high level in the forthcoming week.
With a monthly trading volume of around 25,000t, the trader keeps more than 20,000t of inventory at present.
