Mn alloy prices in broader range in Europe as suppliers aim higher prices for prompt shipment
2024-02-09
An uptick in trading activity following a lull in the market has prompted European manganese alloy (Mn alloy) suppliers to explore higher prices in their latest offerings. However, success in these attempts remains sporadic, with market insiders unable to pinpoint definitive reasons behind the upward trend. “I don’t see any shortage of material in the region. Moreover, there is a lot coming from India, previously booked at around $950 per tonne CIF,” an international trader remarked, talking about silicomanganese (SiMn). “Everywhere in the news, I see people quoting prices of more than €1,200/tonne DDP, but the reality is closer to under €1,100/tonne DDP,” shared another trader, expressing scepticism towards the perceived uptrend. Specifically, although traders aim for €1,150/tonne DDP, especially for prompt shipments, doubts about the sustainability of the uptrend arise from the messages of traders who failed to secure orders above €1,100/tonne DDP. In particular, Metis has learned of a sale of 300 tonnes of low-phosphorus content (0.1% P) SiMn at €1,040/tonne DDP. Additionally, other transactions have been completed at €1,080/tonne DDP for standard material. Consequently, Metis decided to set its SiMn (65% Mn, 16% Si) prices at €1,040-1,150/tonne, with the upper end of the range increasing by €50/tonne over the week due to the heightened appetite of suppliers in their current offers.
Mn metal prices reflect decrease in Europe
2024-02-08
This week has seen significant activity in the European manganese metal (Mn metal) market, with end-users actively engaging in procurement for the second and third quarters. The recent improvements in logistics issues have bolstered confidence, prompting European traders to show higher flexibility during negotiations. Having initially targeted prices of $2,000/tonne DDP and higher, many suppliers have aventually agreed to deals for Mn metal flakes (99.7% Mn min) in the range of $1,900-1,950/tonne DDP with European steel mills. This reflects a decline of $50/tonne compared to the levels observed at the end of January. Meanwhile, ex-China Mn metal offers with shipments scheduled for early March are voiced at $1,830-1,850/tonne CIF Rotterdam, down from $1,880-1,890/tonne CIF Rotterdam two weeks ago. However, some traders argue that offers at these levels are scarce, as most Chinese sellers aim for $1,900/tonne CIF Rotterdam, deemed unfeasible for the European market in light of recent developments.
FeMo suppliers test higher prices with only occasional success
2024-02-08
The recent uptick in inquiries has encouraged European ferromolybdenum (FeMo) suppliers to explore the market with elevated prices. However, the attempts have yielded mixed outcomes. Specifically, while FeMo (65% Mo min) offers have climbed to $47.5/kg Mo DDP and above, actual deal prices tend towards $47/kg Mo DDP and below. Notably, at the beginning of the current week, a steel mill based in Eastern Europe secured a 24-tonne batch of FeMo at a price below $47/kg Mo DDP. “I don’t see significant demand from end-users. It’s possible that testing strategies used by certain traders contributed to the buzz,” remarked an international trader.
Meanwhile, in inter-trading, some traders have managed to secure higher prices. For instance, a small lot of FeMo reportedly sold at $47.3/kg Mo ex-warehouse.
Consequently, Metis FeMo (65% Mo min) prices in Europe settled at $47- 47.5/kg Mo DDP, rising from $45.8-46.5/kg Mo DDP last Thursday.
The range for MoOx (57% Mo min)has expanded from $20.15-20.2/lb Mo DDP to $19.8-20.5/lb Mo DDP, with the upper end of the range aligning with the offered prices.