European traders expect better Mn alloy pricing
2007-05-25 10:05:12 【Print】
BEIJING (Asian Metal) 25 May 07 – Manganese alloy market is getting clearer as at today compared to Morning when nobody really understand the trend of the market. Although prices have moved up significantly, traders still believed it is trading below recurrent cost and expects better pricing.
While SiMn price has moved up to almost EURO1, 100/t d.d.p. for 65/17 grade more than EURO300/t increase in the last one week, and high carbon ferromanganese still foot dragging around EURO900-950/t delivered for 75%min Mn grade.
A major trader said manganese alloy market is still trading below cost margin as it should be above EURO1, 100/t but what consumers are buying now is cheap market. He sold some hundreds of tons at EURO1, 040/t FCA Rotterdam for 65/17 SiMn and it is because the customer is an old one and is trader-to-trader deal. He said it is difficult to get material as he wanted to purchase from South Africa but was told can only get supply in October and now they are only interested in quantity he wants to purchase but not negotiate on price as they cannot assume what the price would be by then.
However, he sold a truckload of high carbon ferromanganese at EURO930/t d.p. in warehouse Rotterdam for 75% Mn. He thinks there is material shortage due to large enquiries he has received in the last few days, so speculating a reoccurrence of 2004 market situation of manganese alloy when prices overnight firm to the sky.
Meanwhile, he concluded couple of deals for medium carbon ferromanganese at EURO1, 300/t delivered and he has stopped selling because price would go up to EURO1, 300-1,400/t.
Another major trader said there is no market for manganese alloy as the price range is too wide around EURO900-1, 100/t for SiMn 65/17 grade, "I don't see real market anymore," the source said. He sold small quantities at EURO1, 100/t delivered for 65/17 SiMn, he emphasized there is material and many enquiries only that traders are holding back from offering as nobody wants to take risk.
High carbon ferromanganese is around EURO900-950/t. there are many enquiries too and he has made offers, just waiting for feedbacks. He is of the few that the market will cool down after third quarter.
A third trader source confirmed prices have been going up for manganese alloy because Chinese and Indian producers have increased prices, however there are lots of enquiries because there is panic buying and demand is good and traders can get material if they are ready to pay higher price. He traded SiMn 60/14 at EURO850/t in warehouse Rotterdam, and HC FeMn EURO810-830/t in warehouse Rotterdam for 70% Mn.
He thinks price will hike more because Chinese suppliers are clever these days, as they want to keep price firm.
Finally, he said medium carbon ferromanganese is difficult to find and price now is around EURO1, 200/t delivered.
While SiMn price has moved up to almost EURO1, 100/t d.d.p. for 65/17 grade more than EURO300/t increase in the last one week, and high carbon ferromanganese still foot dragging around EURO900-950/t delivered for 75%min Mn grade.
A major trader said manganese alloy market is still trading below cost margin as it should be above EURO1, 100/t but what consumers are buying now is cheap market. He sold some hundreds of tons at EURO1, 040/t FCA Rotterdam for 65/17 SiMn and it is because the customer is an old one and is trader-to-trader deal. He said it is difficult to get material as he wanted to purchase from South Africa but was told can only get supply in October and now they are only interested in quantity he wants to purchase but not negotiate on price as they cannot assume what the price would be by then.
However, he sold a truckload of high carbon ferromanganese at EURO930/t d.p. in warehouse Rotterdam for 75% Mn. He thinks there is material shortage due to large enquiries he has received in the last few days, so speculating a reoccurrence of 2004 market situation of manganese alloy when prices overnight firm to the sky.
Meanwhile, he concluded couple of deals for medium carbon ferromanganese at EURO1, 300/t delivered and he has stopped selling because price would go up to EURO1, 300-1,400/t.
Another major trader said there is no market for manganese alloy as the price range is too wide around EURO900-1, 100/t for SiMn 65/17 grade, "I don't see real market anymore," the source said. He sold small quantities at EURO1, 100/t delivered for 65/17 SiMn, he emphasized there is material and many enquiries only that traders are holding back from offering as nobody wants to take risk.
High carbon ferromanganese is around EURO900-950/t. there are many enquiries too and he has made offers, just waiting for feedbacks. He is of the few that the market will cool down after third quarter.
A third trader source confirmed prices have been going up for manganese alloy because Chinese and Indian producers have increased prices, however there are lots of enquiries because there is panic buying and demand is good and traders can get material if they are ready to pay higher price. He traded SiMn 60/14 at EURO850/t in warehouse Rotterdam, and HC FeMn EURO810-830/t in warehouse Rotterdam for 70% Mn.
He thinks price will hike more because Chinese suppliers are clever these days, as they want to keep price firm.
Finally, he said medium carbon ferromanganese is difficult to find and price now is around EURO1, 200/t delivered.
