BEIJING (Asian Metal) 27 Nov 09 – Participants reported to Asian Metal that more inquiries from both domestic and foreign customers are reported and trading volume is larger than before. Meantime, domestic supply is sufficient and manganese price remains firm.
A Hunan-based manganese flake smelter, with an output of 4,500tpm, revealed that more inquiries from overseas consumers are received these days, but he does not make any deals this week with an offer of USD2,600/t FOB since last 300t deal concluded late last week at USD2,540/t FOB with a Japanese customer. "Demand from foreign markets increases a bit this month, and my export volume in November is 500t, but only 300t last month," said the source.
According to the source, manganese price is RMB13,700-13,800/t (USD2,006-2,020/t) ex works and profit of domestic market is higher than that of export deals. Providing the quantity and bids from overseas markets are not favorable, he would rather do domestic businesses. Meanwhile, most suppliers are unwilling to sell and believe the price will rise continuously, but supply is not tight.
Another Hunan-based manganese flake smelter, who has an output of 1,200 tons per month, disclosed to Asian Metal that she made some deals of more than 500t late last week at RMB13,600/t (USD1,991/t) ex works and now is fulfilling the orders with no inventories on hand. "Manganese price rebounds to RMB13,700-13,800/t (USD2,006-2,020/t) ex works for the moment, and more inquiries are received, but I have no materials on hand," shared the source.
According to source, most smelters don't have much stock on hand, but it is not difficult for consumers to replenish materials for the moment. She anticipates there is still a little room for manganese price to rise in the end of year.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment