14 Aug 08 - Manganese market remains quiet in Asia at the moment though the Chinese suppliers lowered their offers to around USD3,900-3,950/t FOB. Sources claimed that some buyers have the intention of replenishing some stocks at current prices but more of them are not ready to purchase before the market goes stable.
A Japanese trader claimed that they received some offers of USD3,930/t FOB for delivery. "We think the price workable but we are in no hurry to purchase now as the market remains inactive and the Chinese market is also unstable. Moreover, we think much material is available in Japan at the moment," said the source.
AThe source claimed that many buyers are still getting the material through long-term contracts and so they are not eager to place an order and on the other hand some Chinese suppliers have already booked out the output in August. "Thus the supply is not quite good at the temporarily, that's why some suppliers insist on higher offers of around USD4,000/t FOB," said the source.
Another Indian buyer received some offers of USD3,950/t CIF Navasheva. "The last deal we concluded was at around USD4,020/t CIF Nevasheva early this month," said the source who claimed that manganese demand in August is lower than that in July and many buyers are not eager to replenish stocks now. They have no intention to purchase though the price is relatively lower.
AThe source believes that many buyers or consumers have already stocked enough materials at hand before the Olympics month. "The production or transportation during thie period may be influenced and many buyers are well prepared before that." The source belives that the supply in Chinese domestic market must be sufficient though the Chinese suppliers are claiming that the supply is decreasing. "Or they would not lower their prices," said the source.