Manganese flake closes in on $5,000 on panic buying London 23 May 2007 14:43 Manganese flake seems unstoppable as consumers are panic-buying, causing the price to leap another $200-400 with offers now exceeding $5,000 per tonne. Flake is now selling at $4,000-4,500 per tonne, up from $3,600-4,100 previously, as consumers buy in fear of being unable to clinch the supplies they need amid booming demand and a perceived shortage of material, following the arrest of material in Rotterdam. “ The manganese flake market has been upside down for the last six months, ” said a European trader, adding that offers for prompt material in Rotterdam are in the $5,200-5,300 range, while material for shipment is now on offer at $4,750-4,800 per tonne. “ We haven ’ t seen any relief, ” he continued. “ We expected the export tax from China might increase in the announcements yesterday; it didn ’ t. I initially thought it would bring some sanity to the price of flake; it didn ’ t. Nothing has changed. People are waiting for a second round of export tax announcements with manganese included in that. ” A manganese ore producer told MB that concerns over ore availability has caused consumers to panic about getting their share of orders on any manganese products. “ Customers are worried about supplies and they are willing to settle at almost any price for their manganese products, ” said the producer source. A second trader said he hope some stability would come back to the market, but added he did not see that happening until the uncertainty about additional export tax on the metal from China is exorcised. “ Until the export tax anxiety lifts from the market, we will see continuing rising prices, ” he said. Manganese lump prices are also rising and trading at a $200 premium to flake, market participants reported. Copyright © Metal Bulletin PLC. All rights reserved.
CSM
cosmo gold limited
consmin tex report on manganese ore increases, page-8
Currently unlisted. Proposed listing date: TBA
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