Manganese market gradually improves while buyers return to the market to replenish some stocks or place some orders. Sources reported that many suppliers raise their offers very quickly but buyers are unwilling to accept a price above USD2,900/t in warehouse Rotterdam.
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A European trader reported to Asian Metal that manganese price follows after the price in China goes up and the current offer is above USD2,900/t CIF Rotterdam while suppliers have raised their prices to about USD3,000/t for prompt delivery, up from about USD2,850/t late last month. The source feels suppliers are optimistic about the future market as they think manganese supply stays low and more buyers would start to replenish stocks.
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"However, there is not much good news from the demand side for the moment while consumers only purchase in small quantities and feel not ready to accept the current high price," said the source. Meanwhile, the supply expects manganese supply to improve and this would hinder the price from going up further in both Chinese and European market.
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A supplier who holds some stocks of manganese flake and briquette in warehouse Rotterdam told Asian Metal that as manganese price goes up in China, the price in Europe also rises. The source increases their offer to about USD3,000/t for manganese flakes for prompt delivery and USD2,600/t for manganese briquette while one week ago, the offer is about USD2,900/t and USD2,550/t respectively.
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"There was a deal made at USD2,550/t for manganese briquette last week and more buyers would start to replenish some stocks for the coming months," believed the source, who feels optimistic about manganese market this month.
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