European manganese flake market sees prices slide again as market reaches expected levels
2016-03-17 08:34:36 [Print]
LONDON (Asian Metal) 17 Mar 16 - The European manganese flake 99.7%min market has seen prices slide once more, as levels begin to approach what the market would consider normal after a spike earlier in the year. Concluded sales have been made between USD1,650-1,700/t in warehouse Rotterdam and it is expected by most that prices will remain at these levels into the coming week as material arriving in China has all but alleviated the shortage of material witnessed in Europe that caused the previous spike.
“Prices have continued to slide this week, we have been in the spot market recently and were unable to sell our material for any higher than USD1,700/t in warehouse Rotterdam, we would be willing to sell as low as USD1,650/t in warehouse Rotterdam but not below this level just yet”, a Western European trader told Asian Metal. The trader sold 50 tonnes of material yesterday for USD1,700/t in warehouse Rotterdam and a further 50 tonnes for USD1,680/t in warehouse Rotterdam. On outlook they were not expecting much movement over the coming week, noting that demand wasn’t particularly strong but the amount of material available in Europe is still mildly tight.
The trader would usually look to sell more than 200 tonnes of material monthly, and had sold at these levels since the start of the year, with 150 tonnes sold thus far in March. The source noted they were currently light on stock, holding just 50 tonnes in warehouse, and would be looking to add to this over the week as they were hopeful of selling a further 100 tonnes before the end of the month.
“We have been able to purchase material at USD1,650/t in warehouse Rotterdam which is cheaper than we saw last week while on the sale side we can sell anywhere from USD1,650-1,700/t in warehouse Rotterdam, ideally we wouldn’t be selling below the USD1,680/t in warehouse Rotterdam mark”, a Central European trader told Asian Metal. The source sold 75 tonnes yesterday at USD1,690/t in warehouse Rotterdam and had recently purchased an additional 50 tonnes for USD1,650/t in warehouse Rotterdam. On outlook the source believed the new price level would hold over the coming week, stating that the market wouldn’t likely see prices slide much further below the USD1,650/t in warehouse Rotterdam mark.
The source was currently holding 100 tonnes of material in stock, and was looking to finish the month with more than 200 tonnes of material sold, having sold 125 tonnes so far in March. The source had average 200 tonnes of monthly sales so far in 2016, an average volume for them.
“Prices have continued to slide this week, we have been in the spot market recently and were unable to sell our material for any higher than USD1,700/t in warehouse Rotterdam, we would be willing to sell as low as USD1,650/t in warehouse Rotterdam but not below this level just yet”, a Western European trader told Asian Metal. The trader sold 50 tonnes of material yesterday for USD1,700/t in warehouse Rotterdam and a further 50 tonnes for USD1,680/t in warehouse Rotterdam. On outlook they were not expecting much movement over the coming week, noting that demand wasn’t particularly strong but the amount of material available in Europe is still mildly tight.
The trader would usually look to sell more than 200 tonnes of material monthly, and had sold at these levels since the start of the year, with 150 tonnes sold thus far in March. The source noted they were currently light on stock, holding just 50 tonnes in warehouse, and would be looking to add to this over the week as they were hopeful of selling a further 100 tonnes before the end of the month.
“We have been able to purchase material at USD1,650/t in warehouse Rotterdam which is cheaper than we saw last week while on the sale side we can sell anywhere from USD1,650-1,700/t in warehouse Rotterdam, ideally we wouldn’t be selling below the USD1,680/t in warehouse Rotterdam mark”, a Central European trader told Asian Metal. The source sold 75 tonnes yesterday at USD1,690/t in warehouse Rotterdam and had recently purchased an additional 50 tonnes for USD1,650/t in warehouse Rotterdam. On outlook the source believed the new price level would hold over the coming week, stating that the market wouldn’t likely see prices slide much further below the USD1,650/t in warehouse Rotterdam mark.
The source was currently holding 100 tonnes of material in stock, and was looking to finish the month with more than 200 tonnes of material sold, having sold 125 tonnes so far in March. The source had average 200 tonnes of monthly sales so far in 2016, an average volume for them.
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: %
