8 Sep 08- Manganese metal market is not fairing well in European market as prices continue to drop at the back of weak demand and excess material supply, sources informed.
At the beginning of last week, offer in warehouse Rotterdam was above USD4, 000/t for manganese flake but by end of the week, it is possible to get it slightly below USD4, 000/t. “There is no demand,” is the slogan of the traders now.
A trader source informed that manganese metal prices are lower now, as he was offered at USD3, 900/t in warehouse Rotterdam for flake on Friday. The source is not looking for material because there is no demand in the market at the moment.
Another trader source in Europe that did not conclude any deal last week said, manganese metal price is on either side of USD4,000/t in warehouse Rotterdam.
Meanwhile, a trader source in America revealed to our source that it is possible at the moment to purchase manganese flake in warehouse Rotterdam at USD3, 900/t, because was offered by a supplier.
A third trader source in Europe said manganese market is dull and prices are dropping due to excess supply and maybe over production despite the market is weak.
He received an enquiry from a customer and offered him from the old stock in the range USD3, 950-4,000/t in warehouse, still waiting for the customer decision. The trader got an offer from a supplier in China at USD3, 930/t FOB China for manganese flake.
He also received lumpy offer from China at USD4, 020/t FOB China, but is not going to purchase because he has stock bought two weeks ago at USD4, 180/t CIF Rotterdam.