BEIJING (Asian Metal) 17 Jul 09 - Manganese market remains firm in China with offers going up to RMB13,200-13,500/t ex works. The export market also sees some inquiries and tenders from overseas market with the offer staying above USD2,450/t FOB. Manganese briquette offer goes up to USD2,050/t FOB for the moment.
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A South Korean trader received an inquiry of 200t for manganese flakes. "As the quantity is large, some Chinese suppliers are ready to sell at USD2,410/t CIF Pusan to compete for the deal, but the price is high at around USD2,450/t CIF for deals below 100 tons," said the source. The source also received an offer of USD2,060/t CIF Brazil for 100 tons of manganese briquette
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Another Shanghai-based agent reported that they received no inquiry from their Japanese customers. The source reported some domestic suppliers raise their offer to USD2,500/t FOB but few foreign buyers are willing to accept above USD2,450/t FOB. However, as the price in China remains firm at above RMB13,200/t (USD1,933/t) ex works, the source feels it difficult to persuade the smelters to accept lower prices for export.
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A Taiwan-based trader is about to purchase 20 tons of manganese flakes but failed to find a good supplier. As the quantity is too low, most suppliers insist on a price above USD2,450/t FOB, but the source only expects to buy at USD2,350-2,400/t FOB.
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Participants claim there are still manganese metals delivered through Vietnam at much lower prices of only around USD2,200-2,300/t CIF India or Rotterdam. But as the Chinese Customs is now investigating this matter, many participants expect the market to return to normal.
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