Asian manganese ore market coming down
2008-10-09 09:10:46 【Print】
BEIJING (Asian Metal) 9 Oct 08 – Asian manganese ore market is coming down, dragged by the slow demand in both China and India. Market participants believe the downward trend will continue in the near future.
A small Indian trader imported a batch of Indonesian lumpy manganese 45% at a price a little higher than USD300/t FOB Indonesia last week.
The source believed the price of manganese ore will continue to fall down dragged by the slow demand from manganese alloy smelters in both India and China.
The trader just began importing manganese ore in early this year, and he informed as the market becomes slow, many trader are inactive to import manganese ore now.
Meanwhile, a trader in Philippines, who usually exports to India and China, offers USD320/t FOB Philippines lumpy manganese ore 40%min and sold hundreds of tons of the material at USD270/t FOB Philippines to an Indian buyer recently.
“The price is coming down, and we have sold several batches of the material at USD440/t FOB in July when the market was bullish,” he said. “The market is impossible to pick up, as manganese alloys are still suffering from sluggish demand.”
