European manganese market at a crossroad
2008-03-17 13:31:25 【Print】
BEIJING (Asian Metal) 17 Mar 08 – The European manganese market arrives at a crossroad, with some participants predicting that the manganese prices would rebound and continue to rise, while others believe the situation to be otherwise. According to market participants, manganese flake prices are in the wide range of USD4,000-4,250/t in warehouse Rotterdam.
A European trader claimed that the manganese market remained quiet and stagnant for the past couple of weeks. However, he is hearing more inquiries from last week. The source holds manganese flake prices to be around USD4,150-4,250/t and lumpy at USD4,250-4,350/t in warehouse Rotterdam. He told Asian Metal that he is receiving Chinese offers of manganese flake at USD4,100-4,200/t and lumpy at USD4,200-4,300/t CIF Rotterdam.
The source believes that although he is receiving more inquiries now as compared to the past few weeks, it is still not enough to push prices up. However, he trusts that the buying activities would grow, reasoning, “as most European steel plants do not store materials, they would definitely need to purchase fresh materials by the end of this month.”
Another trader disclosed that he is receiving manganese flake offers at around USD4,200/t in warehouse Rotterdam. He agrees that the manganese prices would go up, due to the high prices of low and medium carbon FeMn.
However, a European consumer viewed from a different perspective. He claimed to have received offers of manganese flakes at prices ranging USD4,000-4,100/t in warehouse Rotterdam.
The source predicts that the manganese prices would eventually fall back to around USD3,500/t, at levels reported before the snow storm last January. This is because there will be an oversupply of material in the market, when the Chinese manganese smelters recover to their full productions. He argued, “the price hike to USD4,500-4,700/t in the last few weeks was abnormal. It was caused by the bad weather in China from last January to February, which resulted in many Chinese manganese smelters to cease production, and thus a reduction of supply in the market. However, the main reason for the price hike was that the Chinese manganese ore owners and smelters took this opportunity to speculate prices.”The source opines that this speculation would not last long, when the manganese productions in China returns to normal.
A European trader claimed that the manganese market remained quiet and stagnant for the past couple of weeks. However, he is hearing more inquiries from last week. The source holds manganese flake prices to be around USD4,150-4,250/t and lumpy at USD4,250-4,350/t in warehouse Rotterdam. He told Asian Metal that he is receiving Chinese offers of manganese flake at USD4,100-4,200/t and lumpy at USD4,200-4,300/t CIF Rotterdam.
The source believes that although he is receiving more inquiries now as compared to the past few weeks, it is still not enough to push prices up. However, he trusts that the buying activities would grow, reasoning, “as most European steel plants do not store materials, they would definitely need to purchase fresh materials by the end of this month.”
Another trader disclosed that he is receiving manganese flake offers at around USD4,200/t in warehouse Rotterdam. He agrees that the manganese prices would go up, due to the high prices of low and medium carbon FeMn.
However, a European consumer viewed from a different perspective. He claimed to have received offers of manganese flakes at prices ranging USD4,000-4,100/t in warehouse Rotterdam.
The source predicts that the manganese prices would eventually fall back to around USD3,500/t, at levels reported before the snow storm last January. This is because there will be an oversupply of material in the market, when the Chinese manganese smelters recover to their full productions. He argued, “the price hike to USD4,500-4,700/t in the last few weeks was abnormal. It was caused by the bad weather in China from last January to February, which resulted in many Chinese manganese smelters to cease production, and thus a reduction of supply in the market. However, the main reason for the price hike was that the Chinese manganese ore owners and smelters took this opportunity to speculate prices.”The source opines that this speculation would not last long, when the manganese productions in China returns to normal.
