Indian manganese flake market remains sluggish

BEIJING (Asian Metal) 31 Oct 05 – Despite the rising base metal market, the most non-ferrous metals are experiencing a difficult time with low demand, and manganese is one of them.

An Indian trader told Asian Metal that the offers he received from Chinese suppliers are in the range of USD1,530-1,550/t, but his customers asked for lower prices or they would not buy. “One cannot make much money from such a declining market,” said the trader.Asian Metal CopyrightThe trader also said that from October 29th to November 4th is the Indian “Depawali New Year Festival”, and the market may take a turn after the holiday as consumers will start to purchase for next year.Asian Metal Copyright

According the trader, the Chinese are still supplying large quantities of the material while demand in the international market is weak. “Another reason is that the price of ferromanganese is cheaper.” Disclosed the trader; the Indian local market for high-carbon ferromanganese is at around USD580-600/t

Another trader revealed that the offers they received from Chinese suppliers are around USD1,540/t but his customers are not interested at purchasing at this moment.

The trader believes that with some plants closed in Chinese, the supply and demand are in balance now. However, because consumers still have stocks, they show little interest in the market, and he thinks the situation would remain until the end of the year.Asian Metal Copyright” Disclosed the trader; the Indian local market for high-carbon ferromanganese is at around USD580-600tAnother trader revealed that the offers they received from Chinese suppliers are around USD1,540t but his customers are not interested at purchasing at this moment.Asian Metal Copyright

The trader also said that from October 29th to November 4th is the Indian “Depawali New Year Festival”, and the market may take a turn after the holiday as consumers will start to purchase for next year.