Manganese ore traders in China watch the market
2024-04-23 08:31:43 [Print]
BEIJING (Asian Metal) 23 Apr 24 - Seeing the potential for a further price increase, manganese ore traders in China now hold their stocks and watch the market. The current mainstream prices of Australian manganese ore 45%min at Qinzhou port increase by RMB1/dmtu (USD0.14/dmtu) to RMB39.2-40.2/dmtu (USD5.41-5.55/dmtu). Traders predict that the prices could further lift in the coming week.
A trader in Guizhou revealed that they received inquiries at RMB41/dmtu (USD5.66/dmtu) for Australian manganese ore 45%min at Qinzhou port, but did not close any deal. "We stopped proactively quoting at the end of last week, and now we are waiting for even better prices," said the trader. Their latest deal was closed in mid April, when they sold around 1,000t at RMB39/dmtu (USD5.38/dmtu). This price is already higher than that in early April, when they sold around 5,500t at RMB37/dmtu (USD5.11/dmtu). The trader thinks that the prices could climb to around RMB44/dmtu (USD6.07/dmtu) in the forthcoming days.
With a monthly trading volume of around 4,000t, the trader now holds around 7,500t of inventories.
Another trader in Shanghai disclosed that starting from today, they wouldn't take the initiative to quote for Australian manganese ore 45%min at Qinzhou port in price negotiations. Last week they quoted at RMB42/dmtu (USD5.80/dmtu), with up to RMB1/dmtu (USD0.14/dmtu) concession. Their latest deal was also closed last week, when they sold around 1,000t at RMB41/dmtu (USD5.66/dmtu). The trader holds a wait-and-see attitude towards the market prospect. "With suppliers turning to watch the market one after another, we need to look at how frequently buyers make inquiries to see the actual demand that would drive the price change," said the trader.
With a monthly trading volume of more than 6,000t, the trader now holds more than 8,000t of inventories.
A trader in Guizhou revealed that they received inquiries at RMB41/dmtu (USD5.66/dmtu) for Australian manganese ore 45%min at Qinzhou port, but did not close any deal. "We stopped proactively quoting at the end of last week, and now we are waiting for even better prices," said the trader. Their latest deal was closed in mid April, when they sold around 1,000t at RMB39/dmtu (USD5.38/dmtu). This price is already higher than that in early April, when they sold around 5,500t at RMB37/dmtu (USD5.11/dmtu). The trader thinks that the prices could climb to around RMB44/dmtu (USD6.07/dmtu) in the forthcoming days.
With a monthly trading volume of around 4,000t, the trader now holds around 7,500t of inventories.
Another trader in Shanghai disclosed that starting from today, they wouldn't take the initiative to quote for Australian manganese ore 45%min at Qinzhou port in price negotiations. Last week they quoted at RMB42/dmtu (USD5.80/dmtu), with up to RMB1/dmtu (USD0.14/dmtu) concession. Their latest deal was also closed last week, when they sold around 1,000t at RMB41/dmtu (USD5.66/dmtu). The trader holds a wait-and-see attitude towards the market prospect. "With suppliers turning to watch the market one after another, we need to look at how frequently buyers make inquiries to see the actual demand that would drive the price change," said the trader.
With a monthly trading volume of more than 6,000t, the trader now holds more than 8,000t of inventories.
