Manganese price remains at around RMB12,000/t (USD1,754/t) ex works but few deals are concluded. With more smelters about to halt production, the price stops from sliding again. Sources are expecting the market demand to rebound late this month.
A Hunan-based trader who received some unsolicited offers of about RMB12,300/t (USD1,798/t) ex works told Asian Metal that demand has been low for months, "thus some participants are wondering whether the market would go active late this month." The source has no intention of placing any orders yet, thinking it risky to keep stocks though the current price is claimed to be around the bottom line.
The source believed that the production cost of manganese metal would also slide in the coming weeks while the price of imported manganese ore has slid much. "This would also push down the price for domestic manganese carbonate ore," the source demanded.
The source claimed that the downstream stainless steel mills has been stagnant for months and the stainless steel output is reported to decrease in the near term, which might worsen the manganese market.
Another Hunan-based smelter who has been out of production told Asian Metal that it is too difficult for the manganese smelters to operate with hardly any profits to make. "Some people claim the suppliers can get some allowance of about RMB100-200/t for the low price of around RMB12,000/t (USD1,754/t) ex works, which could help nothing to reverse the bad situation," the source claimed, still reluctant to enter the market while no inquiry was received recently.
The source keeps watching the market, waiting for the demand to rebound and expecting a higher price.
(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.
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