Chinese manganese sulfate traders optimistic about the market
2024-04-19 08:27:37 [Print]
BEIJING (Asian Metal) 19 Apr 24 - Because of the rising production cost and stable downstream demand, the mainstream prices of manganese sulfate 32%min in China move up RMB150/t (USD21/t) from last week to RMB4,900-5,100/t (USD677-705/t) EXW D/P. Traders hold a positive attitude towards the market prospect.
A trader in Guizhou disclosed that they now quote RMB5,500/t (USD760/t) EXW D/P for manganese sulfate 32%min, and expect to sell at around 5,350/t (USD739/t). "For regular clients and orders with large volumes, we could consider selling at around RMB5,200/t (USD719/t). Their latest deal was closed early this week, when they sold around 70t at RMB5,300/t (USD732/t) EXW D/P. Towards the end of last week, they sold another 70t at RMB5,200/t (USD719/t) EXW D/P. The trader predicts that the prices could further appreciate in the coming week, and expect the mainstream prices to hit RMB5,500/t (USD760/t) in the forthcoming days.
With a monthly trading volume of 2,000t, the trader now holds no inventory.
Another trader in Hunan revealed that currently their quoting price for manganese sulfate 32%min is RMB5,100/t (USD705/t), with up to RMB100/t (USD14/t) concession. Their latest deal dates back to early April, when they sold around 550t at RMB4,800/t (USD663/t) EXW D/P. "We see an uptick in manganese sulfate prices in the past weeks, possibly for the rising sulfate prices," said the trader. They predict that the prices could stay at the current level in the next week.
With a monthly trading volume of around 1,000t, the trader now holds no inventory.
A trader in Guizhou disclosed that they now quote RMB5,500/t (USD760/t) EXW D/P for manganese sulfate 32%min, and expect to sell at around 5,350/t (USD739/t). "For regular clients and orders with large volumes, we could consider selling at around RMB5,200/t (USD719/t). Their latest deal was closed early this week, when they sold around 70t at RMB5,300/t (USD732/t) EXW D/P. Towards the end of last week, they sold another 70t at RMB5,200/t (USD719/t) EXW D/P. The trader predicts that the prices could further appreciate in the coming week, and expect the mainstream prices to hit RMB5,500/t (USD760/t) in the forthcoming days.
With a monthly trading volume of 2,000t, the trader now holds no inventory.
Another trader in Hunan revealed that currently their quoting price for manganese sulfate 32%min is RMB5,100/t (USD705/t), with up to RMB100/t (USD14/t) concession. Their latest deal dates back to early April, when they sold around 550t at RMB4,800/t (USD663/t) EXW D/P. "We see an uptick in manganese sulfate prices in the past weeks, possibly for the rising sulfate prices," said the trader. They predict that the prices could stay at the current level in the next week.
With a monthly trading volume of around 1,000t, the trader now holds no inventory.
