Manganese Metals Flakes market quiet facing the holiday in China

Manganese market goes quiet in China with the participants staying away from the market due to the coming long holiday in early October. There are few offers or inquiries in the market.
A Changsha-based trader reported to Asian Metal that the current market has been quiet and they received very few inquiries recently from both domestic and overseas market. "As we know, most participants in China now are looking forward to the long holiday early next month and show little interest in any deals especially when demand is low and the price is not very attracting," said the source, whose last offer was USD2,150/t FOB for manganese briquette and USD2,600/t FOB for manganese flakes.
The source claimed they have one Indian buyer who usually stays in the market inquiring for one cargo of manganese briquette or flakes. "This is the only inquiry we have recently, but as the price is not workable, we are not ready to make deal," said the source, who would rather wait till till the middle of October when they return after the holiday。
Another Xiangxi-based smelter who has been away from the export market now told Asian Metal that the supply in China stays sufficient and this hinders the price from moving up. "There are offers low at around RMB13,500/t (USD1,977/t) ex works while some others insist on RMB14,000/t (USD2,050/t) ex works," said the source, who offers USD2,600-2,650/t FOB for manganese flakes, about the same price as last week.
The source expects the situation would improve a bit after the long holiday when they think the overseas buyers would have to increase some stocks for the coming months. However, they heard the supply in Rotterdam now is not so tight as early this month.

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Magnesium ingot, Magnesium alloys market still unclear

The future of magnesium market remains unclear. As the eigh-day off is approaching, the market is slowing down with more participants leaving for holidays. Some smelters in Shanxi and Shaanxi have no spot material available, so they raise offers slightly by RMB100-200/t (USD15-29/t). However, most buyers do not react to the price adjustment positively and prefer to wait till the end of the holiday.
Asianmetal(English) http://www.asianmetal.com 31VM
A Shanxi-based consumer, who buys magnesium ingot regularly to produce magnesium alloy, confirmed that he purchased 200t of magnesium ingot at RMB15,600/t (USD2,284/t) ex works from a Shanxi-based producer on Monday. "I always buy magnesium ingot which is of high quality, so concluded prices might be a bit higher," the source explained.
Asianmetal(English) http://www.asianmetal.com 6WY0
The consumer, who produced over 400t of magnesium alloy in September, told Asian Metal that some magnesium ingot smelters have no stock in hand now, which may push up the price to some extent. "I think the price will rise after the National Day holiday, for I fail to purchase magnesium ingot at RMB15,600/t (USD2,284/t) ex works today," the source said on Tuesday, adding that some suppliers claimed that they would not sell magnesium ingot at prices below RMB15,800/t (USD2,313/t) ex works.
Asianmetal(English) http://www.asianmetal.com PHJ8
A Shaanxi-based producer, whose production capacity is 10,000tpy, claimed that they are still fulfilling the contract signed late last week at RMB15,300/t (USD2,240/t) ex works with package but no acid treatment. "I have learnt that the price is RMB15,100-15,200/t (USD2,210-2,225/t) ex works without acid treatment and package this week," the source added.
Asianmetal(English) http://www.asianmetal.com 567S
The source conveyed that it is hard to predict whether the future market will be stable or not because the long holiday is coming, but he believes the price won't be lower than RMB15,000/t (USD2,196/t) ex works.

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Magnesium ingot offers in a wide range

Sources reported that the magnesium ingot market has seen more deals concluded over the past ten days with prices in a wide range. Some buyers claimed that they could obtain the material at RMB15,200/t (USD2,225/t) ex works from Shaanxi while some Shanxi-based producers still insist on offers of RMB15,700-15,800/t (USD2,299-2,313/t) ex works.
A Shaanxi-based producer currently offers RMB15,300/t (USD2,240/t) ex works for magnesium ingot but has no spot material to supply. All the output before the beginning ofGOctober has been booked at prices ranging RMB15,150-15,250/t (USD2,218-2,233/t) ex works without acid treatment and package.
According to the source, the magnesium ingot market has become more active since early last week. Many consumers and traders have thrown out orders. Although some smelters keep their offers stable and some even raise offers slightly by RMB50-100/t (USD7-15/t) to RMB15,400-15,500/t (USD2,255-2,269/t) ex works, for they receive more orders, a few smelters who are not so confident in the future market are willing to conclude deals at RMB15,200/t (USD2,225/t) ex works.
The source worries that if more smelters accumulate stocks during the long National Day holiday, the price may experience a slight decrease immediately after the holiday.
The smelter, with a production capacity of 10,000tpy, is running with a monthly output of around 400t.
A North China-based trader just ordered a batch of magnesium ingot at RMB15,200/t (USD2,225/t) ex works from Fugu, Shaanxi to fulfill the signed export contracts. The source confirmed to Asian Metal that magnesium ingot offers stay in a wide range of RMB15,200-15,800/t (USD2,225-2,313/t) ex works. Currently some major Shanxi-based producers still put their offers at RMB15,700-15,800/t (USD2,299-2,313/t) ex works.
"We believe that those who offer RMB15,700-15,800/t (USD2,299-2,313/t) ex works cannot conclude deals at such a high level while others in the region are willing to sell at RMB15,500-15,600/t ex works and those in Shaanxi can accept RMB15,200-15,300/t (USD2,225-2,240/t) ex works," said the source, revealing that the reason that some smelters send high offer is that they have booked out the output in the following few days without spot material in hand.
The source also worries that the magnesium ingot price may retreat slightly in early October as many consumers and dealers have replenished stocks over the past ten days and plan to make some purchases before the long holiday. The source has bought more than 200t of the material in recent one week.

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Ferromolybdenum,Ferro Molybdenum price keeps dropping

Chinese suppliers have reduced their prices of ferromolybdenum 60% from around RMB185,000/t(USD45.14/kg Mo) to RMB150,000-160,00/t (USD36.60-39.04/kg Mo) since the middle of August.Though the price is still dropping, some suppliers still have some deals done currently.
A smelter in Jiangsu,with a production capacity of 500tpm for ferromolybdenum,offers RMB155,000/t(USD37.82/kg Mo) ex work for ferromolybdenum 60% currently,confirming that they made a deal of 600t of ferromolybdenum 60% at aroud RMB155,000/t(USD37.82/kg Mo) on Wednsday.
"We have some long-term customers, and our output of ferromolybdenum 60% keeps at about 300tpm in recent months," said the source."I think ferromolybdenum price may drops further this week, but it may tends to be stable early September."
A smelter in Liaoning, with a producton capacity of 100tpm for ferromolybdenum,offers about RMB156,000/t (USD37.82/kg Mo) for ferromolybdenum 60%."We have already made a deal of ferromolybdenum 60% in recent days, and will be delivered this week," said the source.
The source has some long-term consumers, so they don't have a big trouble in selling."I think the demand will resume in September, because steel mills usually purchase the materials in this month,"said the source

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Ferrovanadium,Ferro Vanadium sees lower prices

According to European dealers, price of ferrovanadium decreased in the last several days as there are some profit-taking in current market. However, most dealers are still confident that the price will continue the upward trend next week after more consumers come to market.
A European trader told Asian Metal that he sold a small batch of 80%min ferrovanadium in the middle of the week at USD34.80/kg V d.d.p. to a consumer. "Market is still dull and we are seeing lower offers from few people," said the trader, and he thinks he can get 80%min ferrovanadium at around USD34.50/kg V d.p. in warehouse Rotterdam from other traders.
"Most dealers are still optimistic that the price will turn around in the beginning of September," said the trader, adding that he is one of them. He learnt that the production of steel mills are going to improve, but there also will be many problems when the manufacturers start running their business. The source disclosed that he has a lot of contracts to deliver this week for the consumers' production next week. "But we need more demand to push the market in the positive direction."
Another European trader confirmed the decreasing ferrovanadium price in Europe, and he has not concluded any deal of ferrovanadium in the last few days as he does not want to sell the material he has on hand at cheap prices. "I have just a few ton in stock, and I do not need cash that urgent," he said. The trader confirmed the price in the range of USD34.00-36.00/kg V in warehouse Rotterdam, but holds that there is almost no deal concluded at above USD35.00/kg V this week due to the weak demand.
"We are seeing a few consumers, but the asked volume is far less than we expected," the trader remarked. He still expects the price will go up after the profit taking in European market. "This is no point to panic," and he sees supply is still tight as no one holds large volume of stock in Europe.

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