(2009-3-28)BEIJING (Asian Metal) 23 Mar 09 - Manganese market has been stable in the week while the participants keep watching. Some smelters are reported to have resumed production on the expectation that the market would be warmer in the second quarter but still thin deals are concluded.
Asianmetal(English) www.asianmetal.com BN1A
Manganese price has been lingering at about RMB12,200-12,400/t (USD1,786-1,816/t) ex works though the offers have moved up to about RMB12,500-12,700/t (USD1,830-1,859/t) ex works. More inquiries are received but only some very small deals are reportedly concluded in the week.
Asianmetal(English) www.asianmetal.com JF3P
Manganese production cost keeps high though the price of manganese ore slides a bit. As the preference on the power price was cancelled recently, some smelters start to claim that the production cost rises a bit. Some try to raise their offers as a result.
Asianmetal(English) www.asianmetal.com 267L
Manganese export market sees no improvement. The offer keeps at about USD2,300/t FOB. Some suppliers are reluctant to sell for the moment, thinking few profits can be gained. Demand of the material from Europe remains low while the workable price slides to about USD2,250/t FOB for the buyers from Japan or South Korea.
Asianmetal(English) www.asianmetal.com FAD2
As the first quarter is about to end, some participants expect the demand to increase slightly in the second quarter. Some claim the consumers have been out of the market for long and just keep very little material at hand. So they might have to arrange some deals for the second quarter. Some smelters resume production as a result though still thin deals are concluded.