European electrolytic manganese buyers demand deep discounts

The return of Chinese electrolytic manganese supplies to the market has not affected European purchasing activity; moreover, consumers are only prepared to purchase materials if there are deep discounts.

The price of electrolytic manganese (99.7% Mn) in the European domestic market is 1840-1940 usd/ton FCA Rotterdam (a week ago it was 1890-1970 usd/ton FCA). Although most of the quotes from local traders were at least 1,900 usd/ton, transactions were reportedly concluded at prices close to the lower end of the specified range. Demand remains extremely weak, but there is some interest in bulk materials, with bulk alloys trading at 1980-1990 usd/ton FCA Rotterdam.

According to Hainan West Asia Group, China’s quotation is 1,820-1,850usd/ton CIF. Given the current prices in Europe, we believe that if China adopts a more appropriate pricing policy, then we will be able to see a resumption of activity. At the same time, the trading profit margin of electrolytic manganese is now almost zero, and the market sentiment is quite pessimistic.