Chinese-origin 99.7% manganese metal offer prices have continued to rise, moving beyond $3,000/mt FOB China this week. Prices, however, are quoted in a wide range at $3,000-3,500/mt FOB China in a thin market, local traders said on Thursday. Prices were indicated at around $2,000-2,200/mt FOB China a week ago.
One Hong Kong-based trader said: "Offer prices for manganese metal are changing every day. I am now offering material at about $3,200/mt FOB China but could not find buyers so far." The trader said prices for its raw material carbonate manganese ore prices were rising, leading to firmer manganese metal prices. "Manganese ore is rich in Hunan province of China but the area's mining activity has been further restricted by the government due to the heightened environmetal protection policy in China," he said.
Another trader said: "The highest offer price level I heard earlier this week was at $3,500/mt FOB China. Prices are up but we can't find spot material available so far. Chinese producers are holding back their material when prices are going up." A third trader added: "Prices were up earlier this week but we are now seeing some technical correction these past two days. Offer prices are all over the place and moving in wide range due to market speculation."
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