Market participants hold favorable attitudes towards manganese ore market
2008-02-18 11:47:29 【Print】
BEIJING (Asian Metal) 18 Feb 08 - Chinese manganese ore market remains firm for the present time, and market participants hold favorable attitudes towards the market in the coming days.
A Jiangsu-based trader, who raised the offer for Brazilian manganese ore 47% from RMB88/dmtu (USD10.86/dmtu) ex ports to RMB90/dmtu (USD11.10/dmtu) ex ports after the Spring Festival holiday. The source reveals that before the Spring Festival holiday, they sold about 1,000t of the material at RMB88/dmtu ex ports. Because they raised the offer of the material this week, some buyers are still trying to purchase the material at the former price level.
"We will not sell the material below RMB90/dmtu ex ports to some new customers. And I believe the price of the material will creep up further in the near further," said the source.
A Shandong-based trader , who offers Indonesian manganese ore 42% at RMB60/dmtu (USD7.40/dmtu) ex ports now, received an enquiry of manganese ore from a buyer who intended to purchase the material at RMB60/dmtu ex ports this week. The source is reluctant to sell the maternal below the price level and the deal is still under negotiation now. He shares the view that the price of manganese ore will not go down in the coming days this month.
"I think the price of manganese ore will not decrease in view of the high cost of the material and robust demand firm buyers," said the source.
