Chinese manganese flake exporters bullish about market
2024-04-30 08:18:45 [Print]
BEIJING (Asian Metal) 30 Apr 24 - Encouraged by the price increase from domestic suppliers, most exporters remain bullish about the market and raise their prices accordingly since late last week. The mainstream export prices of manganese flake 99.7%min move up by USD10/t from late last week to USD1,680-1,720/t FOB China. As most exporters believe that overseas clients would accept higher prices, market participants predict that the mainstream export prices would go up further by early May.
A trader in Henan disclosed that they remain optimistic about the market encouraged by the upward price trend in domestic market. Therefore, they stopped quoting proactively from last week. If they receive inquiries from clients, currently they would like to sell at USD1,740/t FOB China for manganese flake 99.7%min and hope to close deals at around USD1,730/t, but would not accept any price below USD1,720/t. "We last sold about 650t at USD1,700/t FOB China about two weeks ago," said the trader, who predicts a further price increase in early May.
The trader estimates to sell around 1,600t this month, about 400t higher than the previous month. They now hold no inventory.
Another trader in Tianjin revealed that they hold bullish attitude now and raise their offer to USD1,740/t FOB China for manganese flake 99.7%min. They expect to close deals at around USD1,725/t but have no intention to sell at any price below USD1,710/t. Their latest deal dates back to last week, when they sold around 200t at USD1,700/t FOB China. "We think the consumers would accept the higher prices as they gradually come to replenish stocks," said the trader, who believes that the prices would move up further in the coming days.
The trader estimates to sell around 1,000t this month, unchanged from that in March. They now hold no inventory.
A trader in Henan disclosed that they remain optimistic about the market encouraged by the upward price trend in domestic market. Therefore, they stopped quoting proactively from last week. If they receive inquiries from clients, currently they would like to sell at USD1,740/t FOB China for manganese flake 99.7%min and hope to close deals at around USD1,730/t, but would not accept any price below USD1,720/t. "We last sold about 650t at USD1,700/t FOB China about two weeks ago," said the trader, who predicts a further price increase in early May.
The trader estimates to sell around 1,600t this month, about 400t higher than the previous month. They now hold no inventory.
Another trader in Tianjin revealed that they hold bullish attitude now and raise their offer to USD1,740/t FOB China for manganese flake 99.7%min. They expect to close deals at around USD1,725/t but have no intention to sell at any price below USD1,710/t. Their latest deal dates back to last week, when they sold around 200t at USD1,700/t FOB China. "We think the consumers would accept the higher prices as they gradually come to replenish stocks," said the trader, who believes that the prices would move up further in the coming days.
The trader estimates to sell around 1,000t this month, unchanged from that in March. They now hold no inventory.
