Manganese market in Europe stays slow though the supply remains tight for manganese flakes. Sources reported to Asian Metal that most participants are still on vacation and though some traders are buying from time to time, most of them are only trying to place some orders for the next month and feel reluctant to accept the current price.
A Changsha-based trader reported to Asian Metal that there are very few buyers asking for spot materials and only those out of supply are buying in a hurry. "The buyers are more likely to place some orders for the next month when the participants return from the holiday," said the source, reporting to Asian Metal that they succeeded in making some deals at USD2,850/t in the middle of the month. But as the price drops in China, more buyers start to hold back from purchasing now, expecting for lower prices in the near term.
The source expects more demand after the summer holiday, but they are not sure whether manganese price will rebound again as the supply keeps increasing in China, which already has pushed the price down to USD2,750/t FOB Chinese main port.
Another Beijing-based trader reported to Asian Metal that they made no inquiry recently. As the market goes slow in Europe, most buyers are staying away from the market though some suppliers insist on very high offers of about USD2,850-2,950/t for spot materials in warehouse Rotterdam. "We don't expect the price to stay long at such a high level," said the source, reporting some may be ready to accept USD2,750/t CIF Rotterdam soon if the situation continues in China.
The source claimed many buyers have already arranged some orders to be fulfilled in September and some Chinese suppliers are delivering the material to Rotterdam warehouse as well. The source has made some deals this month but the highest price they heard was still below USD2,850/t for manganese flakes.

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