European Mn metal offers up

BEIJING (Asian Metal) 19 Dec 08- Manganese metal this week has raised at the back of high offers from Chinese suppliers. The offers for flakes have gone up to around USD2, 800/t CIF Rotterdam, but sources claimed there is no actual deal concluded at such a high level, except for lumpy. European market is generally quiet at the moment because most foundries and steel mills are already on Christmas vacation.
A trader source in Europe said he received enquiry for hundreds of tons of manganese lumpy and he was offered by his Chinese suppliers at around USD2, 350/t CIF Rotterdam, end of last week but two days later he was told the offer was no longer workable. The offer was raised to USD2, 850/t CIF Rotterdam, delivery in December and the contract was signed yesterday.
Another trader source informed that manganese metal market is absolutely quiet and prices are going up from China but there is no single enquiry this week on his side. He has received offer as high as USD2, 800/t CIF Rotterdam from his Chinese suppliers, but thinks is absolutely ridiculous in view that what is happening in Europe as prices are in the range of USD2, 500-2,600/t d.d.p. customer, with 30days payment terms. "It is not sensible to purchase material at the moment; we will wait till end of January as some still have stock," the source said.
Meanwhile, manganese lumpy was offered to the source from China this yesterday at around USD2, 910/t CIF Rotterdam, shipment end of December or beginning of January, but said cannot buy because there is no enquiry.