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.
