consmin manganese up heaps

Mn ore price to push up next quarter 2007-5-31 10:52:41 BEIJING (Asian Metal) 31 May 07 – Manganese ore tightness is getting worse and some participants are already airing producers are bend on increasing price by almost 50%, however, all attempt to confirm from producers failed. According to manganese alloy producer in India, manganese ore producers in Australia have decided to increase price for next quarter by almost 50% due to shortage of material and increasing demand. Normally the company buy 7,000tpm but they are informed that cannot get up to that quantity, price now for July -August consignment is USD6-6.5/dmtu CIF Calcutta for lumpy 48% Mn. The domestic producers like Tata are not offering material for sales and other are selling limited quantity. A trader source in Singapore informed that in Shanghai ferroalloy summit, it was unanimously agreed by producers and consumers to hike standard grade manganese ore next quarter to USD6.5/dmtu CIF Chinese main port for 48% Mn, presently, price is stable and supply is still tight. Although manganese ore market is still tight, for prices to double next quarter would definitely worsen already volatile manganese alloy market.
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