Chinese manganese flake traders raise export quotations
2016-03-25 19:46:55 [Print]
BEIJING (Asian Metal) 25 Mar 16 - Currently, the domestic supply of manganese flake 99.7%min is tight, spot quotations from producers are firm with most offering at RMB10,000-10,100/t(USD1,536-1,551/t); as a result, export quotations for manganese flake see an increase on the basis of FOB. Mainstream quotations for Chinese manganese flake are at USD1,530-1,580/t FOB China at the moment, up by USD10-20/t from late last week. However, traders indicated that actual transaction prices have not moved up significantly with limited export transactions although quotations have picked up.
A trader based in South China is offering manganese flake at USD1,570/t now, up by USD20/t from last week. “We received an inquiry last week and offered at USD1,550/t, but the customer thought quotations were at high levels. Purchase prices were at RMB9,750-9,800/t(USD1,498-1,505/t) last week with figures going upward to RMB9,900-10,000/t(USD1,521-1,536/t) this week,” he said. The trader has not concluded deals for almost two weeks.
The trader purchases manganese flake based on firm orders from regular producers and exports 200-300tpm. They have sold around 100t so far this month with no stocks at present.
Another trader based in South China is offering at USD1,550/t FOB China currently, up by USD20/t from last week and up by USD30/t from his last transaction price. He last sold at USD1,520/t in early to mid March. “Although prices for the domestic manganese flake have seen a significant rise, actual export prices have witnessed little changes. Customers refuse to accept our current prices while the market also sees futures prices at RMB9,700-9,800/t(USD1,490-1,505/t) at the moment,” he said.
The trader typically sells around 1,000t of manganese flake per month with 100-200t in the export market and 800-900t in the domestic market. He holds 100-200t in inventory at present.
A trader based in South China is offering manganese flake at USD1,570/t now, up by USD20/t from last week. “We received an inquiry last week and offered at USD1,550/t, but the customer thought quotations were at high levels. Purchase prices were at RMB9,750-9,800/t(USD1,498-1,505/t) last week with figures going upward to RMB9,900-10,000/t(USD1,521-1,536/t) this week,” he said. The trader has not concluded deals for almost two weeks.
The trader purchases manganese flake based on firm orders from regular producers and exports 200-300tpm. They have sold around 100t so far this month with no stocks at present.
Another trader based in South China is offering at USD1,550/t FOB China currently, up by USD20/t from last week and up by USD30/t from his last transaction price. He last sold at USD1,520/t in early to mid March. “Although prices for the domestic manganese flake have seen a significant rise, actual export prices have witnessed little changes. Customers refuse to accept our current prices while the market also sees futures prices at RMB9,700-9,800/t(USD1,490-1,505/t) at the moment,” he said.
The trader typically sells around 1,000t of manganese flake per month with 100-200t in the export market and 800-900t in the domestic market. He holds 100-200t in inventory at present.
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: %
