Manganese price continues to slide in India
2006-02-23 13:41:59 【Print】
BEIJING (Asian Metal) 23 Feb 06 – As the stainless steel industry continues to be weakening, the manganese demand in India is slow, and price continues the previous sliding trend.
A Mumbai trader told Asian Metal that he bought a batch of manganese flake from a Chinese supplier at USD1,200/t CIF Mumbai. Compared with the former purchases the trader made two weeks ago, the price dropped by USD30/t.
“The stainless steel industry is very week in India now, and manganese market is affected with the lower demand.” The trader believes another major reason for the dropping price is that the market is over flooded with the material.
A New Delhi trader claimed that he received offers at USD1,215-1,220/t CIF earlier in the week, and around USD1,200/t in the middle of the week, but no inquiries from his customers. “Demand is slow.”
The source also deals with selenium, and with sliding price of the raw material, he holds that the price of manganese would continue to drop.
