The European manganese market remains sluggish with weak demand from consumers this week, as most consumers have yet return from the summer holidays. Market participants claimed to be receiving few inquiries and have few deals concluded. Manganese flake prices remains stable in the range of USD4,050-4,150/t in warehouse Rotterdam, and Chinese offers are in the range of USD4,000-4,100/t CIF Rotterdam.
AsiA 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.
AThe source told Asian Metal that the market is very quiet and many suppliers and traders are bidding aggressively to conclude deals. “We offered material in the range of USD4,100-4,150/t in warehouse Rotterdam, but missed the deal. More dealers are now willing to offer material at lower prices.”
He believes that the European manganese market would continue keep weak even after the summer holidays. “Affected by the weakness in European economy, the demand for manganese metal would be much weaker than the same period last year.”
Another trader holds manganese flake prices to be in the range of USD4,050-4,150/t in warehouse Rotterdam. He is also receiving Chinese offers in the range of USD4,000-4,100/t CIF Rotterdam.
The source claimed that in the quiet market, more consumers are unwilling to accept high offers. “Most consumers are only willing to purchase material at USD4,050-4,100/t in warehouse Rotterdam. Therefore, we need to get Chinese offers as low as USD3,900/t CIF Rotterdam in order to have profit margin.”
He opined that manganese flake price would drop together with the weak demand, arguing, “Due to the weakness in both European and Chinese domestic market, Chinese suppliers would have to lower offer price to clear stocks for cash turnover.”