Manganese market quiet facing the holiday in China
2009-09-30 09:10:51 【Print】
BEIJING (Asian Metal) 30 Sep 09 - Manganese market goes quiet in China with the participants staying away from the market due to the coming long holiday in early October. There are few offers or inquiries in the market.
A Changsha-based trader reported to Asian Metal that the current market has been quiet and they received very few inquiries recently from both domestic and overseas market. "As we know, most participants in China now are looking forward to the long holiday early next month and show little interest in any deals especially when demand is low and the price is not very attracting," said the source, whose last offer was USD2,150/t FOB for manganese briquette and USD2,600/t FOB for manganese flakes.
The source claimed they have one Indian buyer who usually stays in the market inquiring for one cargo of manganese briquette or flakes. "This is the only inquiry we have recently, but as the price is not workable, we are not ready to make deal," said the source, who would rather wait till till the middle of October when they return after the holiday。
Another Xiangxi-based smelter who has been away from the export market now told Asian Metal that the supply in China stays sufficient and this hinders the price from moving up. "There are offers low at around RMB13,500/t (USD1,977/t) ex works while some others insist on RMB14,000/t (USD2,050/t) ex works," said the source, who offers USD2,600-2,650/t FOB for manganese flakes, about the same price as last week.
The source expects the situation would improve a bit after the long holiday when they think the overseas buyers would have to increase some stocks for the coming months. However, they heard the supply in Rotterdam now is not so tight as early this month.
