Chinese manganese ore prices rise further
2024-04-28 08:26:35 [Print]
BEIJING (Asian Metal) 28 Apr 24 - Driven by the bullish market sentiment, the current mainstream prices of Gabonese manganese ore 44%min at Tianjin port increase by RMB2/dmtu (USD0.28/dmtu) to RMB43-45/dmtu (USD5.93-6.21/dmtu). Traders predict that the prices would remain strong in the coming days.
A trader in Shanghai revealed that they received inquiries at around RMB48.5/dmtu (USD6.69/dmtu), but did not close any deal. Currently they quote RMB50/dmtu (USD6.90/dmtu) for Gabonese manganese ore 44%min at Tianjin port, and they don't accept any sales price lower than that. Their latest deal dates back to early this week, when they sold 3,500t at RMB45/dmtu (USD6.21/dmtu). This price is already higher than that in last week, when they sold around 2,000t at RMB42/dmtu (USD5.80/dmtu). "As now everyone quotes high and still can make deal, we would stick to the high prices in the next week," said the trader.
The trader estimates to sell 10,000t this month, unchanged from the previous month. They now keep around 7,500t of inventories.
Another trader in Guizhou disclosed that they received inquiries at RMB50.5/dmtu (USD6.97/dmtu) for Gabonese manganese ore 44%min at Tianjin port, but did not close any deal. They stopped proactively quoting this week and watch the market. "We expect higher sales prices in the forthcoming days, and now we are waiting for major international suppliers to quote their prices," said the trader. Their latest deal dates back to last week, when they sold 1,000t at RMB39.5/dmtu (USD5.45/dmtu). The trader foresees that the prices would stay firm in the coming days.
With a monthly trading volume of around 17,500t, the trader now keeps around 45,000t of inventories.
A trader in Shanghai revealed that they received inquiries at around RMB48.5/dmtu (USD6.69/dmtu), but did not close any deal. Currently they quote RMB50/dmtu (USD6.90/dmtu) for Gabonese manganese ore 44%min at Tianjin port, and they don't accept any sales price lower than that. Their latest deal dates back to early this week, when they sold 3,500t at RMB45/dmtu (USD6.21/dmtu). This price is already higher than that in last week, when they sold around 2,000t at RMB42/dmtu (USD5.80/dmtu). "As now everyone quotes high and still can make deal, we would stick to the high prices in the next week," said the trader.
The trader estimates to sell 10,000t this month, unchanged from the previous month. They now keep around 7,500t of inventories.
Another trader in Guizhou disclosed that they received inquiries at RMB50.5/dmtu (USD6.97/dmtu) for Gabonese manganese ore 44%min at Tianjin port, but did not close any deal. They stopped proactively quoting this week and watch the market. "We expect higher sales prices in the forthcoming days, and now we are waiting for major international suppliers to quote their prices," said the trader. Their latest deal dates back to last week, when they sold 1,000t at RMB39.5/dmtu (USD5.45/dmtu). The trader foresees that the prices would stay firm in the coming days.
With a monthly trading volume of around 17,500t, the trader now keeps around 45,000t of inventories.
