Manganese flakes export market sees lower prices

Manganese export market sees lower prices at around USD3,900-3,950/t CIF Rotterdam this week with some Chinese suppliers offering much lower prices of around USD3,850-3,900/t FOB. And many of them are facing difficulties in getting through the Customs.
AA Hunan-based suppliers claimed that they just concluded some small deals at prices of USD3,850-3,900/t FOB with buyers from European countries. "Manganese demand is very weak this month with few inquiries from the foreign buyers," said the source. "Though many suppliers insist on offers of USD3,900-3,950/t FOB or even higher prices of USD4,000-4,050/t FOB, some exporters still with some stocks at hand are selling at much lower prices of USD3,850-3,900/t FOB." The source claimed that they have to release some materials for cash turnover and could not await for higher prices which is expected in late September.
AThe source reported that the current price level in Shenzhen Customs is much higher than their concluded price and they have to pay extra money to get through the Customs. "This adds to the export cost and makes our business less profitable."
Another Hunan-based trader who offers USD4,000/t FOB failed to attract any foreign buyers. "Many buyers are hesitant to purchse, claiming the price too high," said the source who complained that some suppliers are selling at much lower prices of USD3,850-3,900/t FOB. "That can be profitable for the smelters but we traders could not accept such a price due to few profits." The source has no strong intention of exporting for the moment and most of their deals are signed with domestic buyers at the moment.
The source also claimed that some foreign buyers are getting the material through Hai Phoon port in Vietnam. "I don't know how could domestic suppliers deliver their material through Vitenam but I believe the price can be much lower there, so they can avoid the high price floor at the moment."

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Antimony ingot price stable in Russia

Some antimony consumers in Russia return to the spot market in succession to purchase for the production next quarter. However, most buyers are holding watching attitudes due to the high price. Few deals are concluded this week. The price of antimony ingot 99.65%min remains stable in the range of RUB200-205/kg (USD8,123-8,326/t), unchanged compared with that one week ago.
A Russian antimony ingot producer, with the production capacity of 120tpm, attributes the high price in Russia to the climbing price in the international market. The source said that price increase of antimony ingot in China contributes to that in European. In turn, the price increase in Europe leads to the rise in export and domestic price in Russia.
The source offers RUB205/kg (USD8,326/t) d.d.p. for antimony 99.65%min, the same as that one week ago. However, no deal has been concluded this week. "Though we received more inquiries this week, most buyers are just testing the market without real intention of buying," he said. Most buyers cannot accept the current high price and purchase inactively, so he plans to lower the price. He thinks that the price will go down in a short term.
AA trader in Russia reported as for the market trend, most traders are confused, so they hold the watching attitudes at present due to the price hike in the local antimony market. Thus, the market supply reduces relatively and the price runs in a high level. The source purchases around 60tpm of antimony 99.65%min.
The source currently quotes RUB208/kg (USD8,448/t) d.d.p for antimony 99.65%min this week. However, some traders have reduced the price in order to reach a deal. The market keeps dim, for consumers cannot accept the high price. Therefore, the source believes that price of antimony will go down in a short term.

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European antimony market quiet this week

As European buyers are scared of the high price of antimony, European market had been quiet this week.
AA European trader told Asian Metal that he received offers from China earlier this week at USD6,580/t CIF Rotterdam for 99.65%min standard grade two antimony ingot and USD6,700/t CIF for low bismuth material. Both offers are for end of September shipment.
He opines that there is little stock in Europe at the moment, and no shipment from China before end of September. According to him, there were some activities in the last two weeks but market calm down again this week. "People are reluctant to the high prices."
The trader holds that the high price would be temporary for the next two to three months, so the consumers would not change to substitute. "USD7,000/t is still acceptable for the current antimony market, but if it continues going up to USD8,000-10,000/t, then we will see people leave antimony for other products," the source remarked.
Another trader confirmed the price of 99.65%min low bismuth grade two antimony ingot in offered to him at USD6,700/t CIF Rotterdam, and about USD6,800/t in warehouse Rotterdam. "But consumers are not willing to buy at the current prices," said the source who also had not concluded any deal this week.
He believes antimony price will continue increasing in the next one month due to the tight supply from China and increasing demand in Europe after more consumers come back to offices. "Price may reach USD7,000/t very soon."
The source learned that Chinese government increased export duty for some material from middle of the week, and he told Asian Metal that there maybe less smuggled material in market now, which is another reason for the tight supply. "I heard people talking about higher profit to smuggle ferroalloys and coke because the export duties are as high as 20% and 40%, and antimony is only 5%."
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Re: European manganese price slips

Due to the continuous weak demand from consumers, market participants reported a slight fall of manganese flake prices to the range of USD4,050-4,150/t in warehouse Rotterdam, and Chinese offers are also lowered to the range of USD4,000-4,100/t CIF Rotterdam.
A European trader holds manganese flake prices to be in the range of USD4,050-4,100/t in warehouse Rotterdam. He is also receiving Chinese offers in the range of USD4,000-4,100/t CIF Rotterdam.
AThe source claimed that the manganese market is very quiet. "There is absolutely no inquiry from consumers in the past 3-4 weeks!"
He opined that the weakness in the market is due to the slowdown in the world economy, "The recession in Europe and the US is causing great effect on the steel industry as well. Nearly zero growth rate is forecasted for Europe in the next quarter."
The dealer believes buying activities would continue to keep weak in the next few weeks.
Another trader holds manganese flake prices to be in the range of USD4,050-4,150/t in warehouse Rotterdam. He is also receiving Chinese offers in the range of USD4,000-4,100/t CIF Rotterdam.
He agreed that the demand is very weak in Europe now, "We are receiving few inquiries from our customers, as most consumers are holding back from purchase when they are unsure of demand for their end-products in the weak economy."
The source claimed that the manganese market is very quiet now and would need to wait and see how it would become in the next few weeks, "By right, consumers are to return from the summer holidays to purchase material. But if we don't see them, then demand is expected to keep slow in the next quarter too."

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European manganese price slips

Due to the continuous weak demand from consumers, market participants reported a slight fall of manganese flake prices to the range of USD4,050-4,150/t in warehouse Rotterdam, and Chinese offers are also lowered to the range of USD4,000-4,100/t CIF Rotterdam.
A European trader holds manganese flake prices to be in the range of USD4,050-4,100/t in warehouse Rotterdam. He is also receiving Chinese offers in the range of USD4,000-4,100/t CIF Rotterdam.
AThe source claimed that the manganese market is very quiet. "There is absolutely no inquiry from consumers in the past 3-4 weeks!"
He opined that the weakness in the market is due to the slowdown in the world economy, "The recession in Europe and the US is causing great effect on the steel industry as well. Nearly zero growth rate is forecasted for Europe in the next quarter."
The dealer believes buying activities would continue to keep weak in the next few weeks.
Another trader holds manganese flake prices to be in the range of USD4,050-4,150/t in warehouse Rotterdam. He is also receiving Chinese offers in the range of USD4,000-4,100/t CIF Rotterdam.
He agreed that the demand is very weak in Europe now, "We are receiving few inquiries from our customers, as most consumers are holding back from purchase when they are unsure of demand for their end-products in the weak economy."
The source claimed that the manganese market is very quiet now and would need to wait and see how it would become in the next few weeks, "By right, consumers are to return from the summer holidays to purchase material. But if we don't see them, then demand is expected to keep slow in the next quarter too."

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Manganese export faces high price floor

22 Aug 08 - Manganese export market is dull at the moment and the export price remains low at around USD3,900-3,950/t FOB. However, sources reported to Asian Metal that the export price floor in some Customs is quite high and they find it difficult to deliver the maerial out of the Customs.
A Guangxi-based smelter who is about to deliver some material out of Huangpu Customs told Asian Metal that the price floor in Shenzhen is almost USD4,000/t FOB which they could hardly get at the moment. "Actually, the price is around USD4,000/t CIF Rotterdam for the moment," said the source who complained that current price floor is too high for the them.
"We are ready to turn in some money to the Customs as deposit but we may have to make up the gap between the price floor and our export price by ourselves. Then we can hardly have any profits at the moment," the source said.
Another Hunan-based smelter also confirms that the export price floor is hampering their export now. "The price floor could ensure that the domestic suppliers would not lower their price too much at the cost of the whole suppliers' interest, but when the market remains stagnant, we can hardly conclude a deal at workable price," said the source who claimed that the price floor in Huangpu is in the range of USD3,800-3,900/t FOB. The source claimed that once manganese price floor is over USD4,500/t FOB early this month. "Some deals were signed at higher prices months ago for long-term contracts but now the export market is weak and the price could not be so high."
AThe source also added that the price floor for manganese ingot is around USD4,050/t FOB and that of LC FeMn around USD4,050/t FOB, MC FeMn around USD3,900/t FOB for the moment.

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Magnesium ingot export market sluggish with policy unclear

The export market for magnesium ingot remains quiet with few inquiries showing up. Additionally, some exporters are unclear about the price floor policy which becomes a hot topic presently, so they dare not clear customs in a hurry, market sources reported to Asian Metal. A Shanxi-based trader who exports 200-400tpm of magnesium ingot reported that the export market has been dull for over two months while they only concluded three or four small deals with foreign customers.
The source revealed that they concluded a deal of 120t at USD4,300/t FOB Tianjin with a consumer from East Europe a week ago for with shipment no later than August. "We're satisfied with the concluded price, as many others said that they could seal a deal at prices above USD4,200/t FOB," said the source.
However, the source dares not arrange shipment for the contracted material after learning that Tianjin Customs adopted price floor policy on magnesium export and exporters should have to pay more export tax according to a limit price which is much higher than the current market price.
An official from a Shanxi-based smelter also expressed the concern about the export policy, believing that the limit price may make the market situation worse. "The export market has been sluggish. Furthermore, if more suppliers suspended exporting, the domestic price is bound to decrease due to increasing supply," said the source.
The source revealed that the policy is still unclear now, as only one or two exporters reported that their materials were trapped by the customs. Therefore, participants have to keep a close eye on the market.
According to the source, the smelter is running with a small output of 300-400tpm, and most of the materials are sold in the domestic market. "We exported some materials via trading companies, but few traders ordered materials from us as they had not received any inquiries from foreign buyers," said the source. The source thinks that the price of USD4,050-4,150/t FOB should be workable for the time being.

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