Manganese market remains quiet in Japan but more demand is expected to come from next month as the economy starts to improve. There are some inquiries from Japan but still only few deals are made.
A Japanese trader reported to Asian Metal that they have no inquiry received from local customers yet. "Demand is expected to increase but till the present, the market is still inactive," said the source, who received some offers of about USD2,700-2,750/t CIF Japan early the month.
Currently, manganese price in China drops greatly and some suppliers are ready to sell at around USD2,600/t FOB, which the source believes will hinder the buyers from returning in the near term as the price is on the downturn. The buyer expected to return to the market for some orders after October. The source purchases about 500-1,000tpm of manganese flakes.
Another Japanese trader who also stays watching the market told Asian Metal that they heard a deal of about 200 tons made early this month at about USD2,680/t FOB. The source expects the market to improve gradually in Japan, which they believe will help push manganese market ahead. "But we need to be patient, for it takes time for the demand to rebound and meanwhile the market in China seems unstable with price dropping day by day," said the source.
The source received some offers in the range of USD2,620-2,650/t FOB Chinese main ports and it seems that many Chinese smelters have some stocks at hand, so there is no need to be in a hurry to place an order.
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