Export quotations of Chinese manganese flake edge down
2016-03-08 18:16:25 [Print]
BEIJING (Asian Metal) 8 Mar 16 - Even though the intermediate rate of US dollar against the yuan fell down to around 6.51 earlier this week, some Chinese traders still lowered their export quotations after seeing lower prices in the domestic market. Currently, the mainstream export quotations of Chinese manganese flake stand at USD1,500-1,520/t, down by USD10-20/t from late last week.
A trader in South China noted that he lowered his quotation by around USD20/t to USD1,500/t FOB China this week. “We quoted at USD1,520/t last week, but couldn’t make any sales. So we lowered the quotation to USD1,500/t this Monday,” he said. Except the long-term contracts, the trader didn’t conclude any new orders in February. In late February, the source received an enquiry and gave the quotation of USD1,530/t, but the buyer made the purchase from other source at USD1,520/t.
The trader normally doesn’t hold stocks at hand and only makes purchases in accordance with overseas orders. Since he still needs to supply long-term contracts, his monthly sales could reach 200-300t, but from December last year to early January, his exports of manganese flake expanded to around 400t on a monthly basis as overseas buyers increased their purchasing volume. However, the source only sold around 200t through long-term contracts in February.
Another trader in South China, who quotes manganese flake at USD1,500/t, confirmed his quotation has dropped by USD10/t from last week. “Someone in the market still sell at USD1,490-1,500/t FOB China, but we made deals at USD1,520/t (with freight of USD10-15/t) early last week. Currently, our quotation for manganese flake stands at around USD1,500/t,” he noted.
The trader could see stable exports of 700-800t because he has long-term contracts. The source holds 200-300t of manganese flake in stock for the time being. “Ningxia Tianyuan Manganese quotes their material at a higher price in the export market, so the orders sealed by producers in South China are not concluded at very low prices,” he added.
A trader in South China noted that he lowered his quotation by around USD20/t to USD1,500/t FOB China this week. “We quoted at USD1,520/t last week, but couldn’t make any sales. So we lowered the quotation to USD1,500/t this Monday,” he said. Except the long-term contracts, the trader didn’t conclude any new orders in February. In late February, the source received an enquiry and gave the quotation of USD1,530/t, but the buyer made the purchase from other source at USD1,520/t.
The trader normally doesn’t hold stocks at hand and only makes purchases in accordance with overseas orders. Since he still needs to supply long-term contracts, his monthly sales could reach 200-300t, but from December last year to early January, his exports of manganese flake expanded to around 400t on a monthly basis as overseas buyers increased their purchasing volume. However, the source only sold around 200t through long-term contracts in February.
Another trader in South China, who quotes manganese flake at USD1,500/t, confirmed his quotation has dropped by USD10/t from last week. “Someone in the market still sell at USD1,490-1,500/t FOB China, but we made deals at USD1,520/t (with freight of USD10-15/t) early last week. Currently, our quotation for manganese flake stands at around USD1,500/t,” he noted.
The trader could see stable exports of 700-800t because he has long-term contracts. The source holds 200-300t of manganese flake in stock for the time being. “Ningxia Tianyuan Manganese quotes their material at a higher price in the export market, so the orders sealed by producers in South China are not concluded at very low prices,” he added.
Manganese Flake 99.7%min CIF India
Unit:USD/mt
China's manganese flake producers' sales to production ratio statistics by province by month
Unit: %
