24 Jul 08 – More European traders believe that manganese prices have fallen to the bottom, and are booking material to position for their 4th quarter sales. According to market participants, due to better buying activities, manganese flake prices have reached USD4,000-4,100/t in warehouse Rotterdam, and Chinese offers in the range of USD4,000-4,100/t CIF Rotterdam.

A European trader holds manganese flake prices to be in the range of USD4,000-4,100/t in warehouse Rotterdam. He is also receiving Chinese offers in the range of USD4,000-4,100/t CIF Rotterdam.

The source disclosed to Asian Metal that he purchased a few truckloads of manganese flakes at USD4,000/t CIF Rotterdam this week. “We believe prices have reached the bottom now, and demand would increase when consumers return to purchase material for their productions in the next quarter.”
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Another trader holds manganese flake prices to be in the range of USD4,000-4,100/t in warehouse Rotterdam. He is also receiving Chinese offers in the range of USD4,000-4,100/t CIF Rotterdam.

He also claimed that he bought some material at USD4,000/t CIF Rotterdam. The source agreed that prices have increased this week. “When more Europeans started to accept low prices and purchase some material, the Chinese suppliers thought it was a good opportunity to raise offers.”

However, the source is not optimistic about the manganese market, “We haven’t received many inquiries from consumers as it is very quiet in the summer holidays. However, it is exceptionally quiet this year as compared to the same period last year. More European steel mills have preferred to use more low and medium FeMn for their production.”

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