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With global supply tight, BHP Billiton has been able to boost manganese ore prices by 310% to Japanese buyers for fiscal 2008, starting April 1.
Nippon Steel and Japanese leading ferroalloy maker, Nippon Denko, agreed to increase the manganese ore purchase price by 4.1 times.
This is the first price increases in three years for ore and will push up the ferroalloy price, according to Merrill Lynch analysts. ...Chinese government issued around 23,000 tonnes of export license for rare earth as the first batch for 2008.
The total volume for the year could reduce to 36,000 tonnes in 2008 from 40,000 tonnes in 2007 when the country reduced the volume by 10% in recent years.
The country reduces the export by around 3% for tungsten and antimony and by 10% for tin.
– Japan Metal Bulletin
...Owing tightened supply the prices of Antimony Metal continue to go up in China ,the current domestic sale prices have come to RMB42,000-43,000/Mt with the rising range of RMB2,500-3,000/Mt .The prices of Antimony Metal were about RMB39,500-40,000/Mt in China in the middle of Jan and before the heavy storm.But influenced by heavy storm and Chinese Spring Festival the domestic antimony supply are tightened and the prices rise accordingly.Now the basic selling quotations from antimony manufacturers are all at about the level of FOB USD5,900/Mt.The manufacturers who have antimony metal stock rised their sale prices one after another.
Although the smelters and manufacturers are recovering their production gradually ,but the actual total output have not come to the normal standard of the same period .It is predicted by insiders that everything will go well once the electric power completely recovers in March .Some companies have started up some antimony smelters but the others are all under stop production status .So far we do not know when the smelters will start production from stop production status. There are still some areas that have not been recovered the elecric power ,so the manufacturers can not confirm when will come back to the normal production standard. On the other hand the export quotations in China have appeared rising trend that have aroused "reject purchasing feeling" from oversea's buyers.
It is disclosed by one Beijing based trader that the current antimony export quotations have rised to CIF USD 6,250/Mt ,which is USD50/Mt higher than last week.News from one Hongkong based trader that the current quotations for 99.65% Antimony Metals are CIF East and South Asia Port USD 6,000/Mt ,but it was USD 5,700/Mt at the beginning of Feb,2008 ,and there was no customer to accept such price .Analysed by insiders that the rising speed for the current prices are very rapidly that make some customers do not have the proper mental preparation. So the customers with inquries can not catch up with the price rising speed .
Except the supply factors ,the RMB increase in value has been another reason.When the RMB benchmark price rised 1-2% the antimony prices will rise about USD 20-30/Mt to fatch up the loss to the manufacturers .As far as the future antimony market trend is concerned ,most of the customers consider that the price can not drop to the level of USD 5000/Mt .
The steep increase in prices, announced Tuesday by the Chinese government's National Bureau of Statistics, is the latest warning sign that China has been transformed from a moderating influence on global prices to a source of inflationary pressure.
Chinese exporters are trying to pass on their rising costs to overseas customers, which could contribute to inflation in the United States and Europe.
"Our company is faced with rising labor costs and raw material costs," said Michelle Yin, a sales manager for the Shanghai Yongqiu Compressor Company, which makes walk-in coolers and freezers and exports to the United States and Europe. "Depending on the margin we get from individual customers, we have been able to pass on all or part of the cost increase. For new customers, we typically have to set prices more aggressively to get their business.
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Chinese-origin 99.7% manganese metal offer prices have continued to rise, moving beyond $3,000/mt FOB China this week. Prices, however, are quoted in a wide range at $3,000-3,500/mt FOB China in a thin market, local traders said on Thursday. Prices were indicated at around $2,000-2,200/mt FOB China a week ago.
One Hong Kong-based trader said: "Offer prices for manganese metal are changing every day. I am now offering material at about $3,200/mt FOB China but could not find buyers so far." The trader said prices for its raw material carbonate manganese ore prices were rising, leading to firmer manganese metal prices. "Manganese ore is rich in Hunan province of China but the area's mining activity has been further restricted by the government due to the heightened environmetal protection policy in China," he said.
Another trader said: "The highest offer price level I heard earlier this week was at $3,500/mt FOB China. Prices are up but we can't find spot material available so far. Chinese producers are holding back their material when prices are going up." A third trader added: "Prices were up earlier this week but we are now seeing some technical correction these past two days. Offer prices are all over the place and moving in wide range due to market speculation." ...Unforged manganese, manganese scraps and powder, some other kinds of manganese and products made of manganese were put in Promulgating Catalog of Commodities under Administration of Export License, according to the latest announcement by the Ministry of Commerce and General Administration of Customs.
This is another policy adopted by the government to regulate the industry of electrolytic manganese, following the 15 per cent export tariff on unforged manganese that began on Nov. 1, 2006. At the present, price of electrolytic manganese are surging, with a lot of contract-breaching on the market. And at the same time manganese companies are finding ways to export electrolytic manganese without paying the tariff.
The export tariff levied since Jan. 1, 2006 heats the market of electrolytic manganese a lot. At the beginning, the buyers and sellers could not reach agreements on the prices of electrolytic manganese and this made lots of signed contract with the goods unshipped called off. But with the new year approaching, many buyers were starting to accept the prices which are raised from 1260-US$1280 per ton (FOB) to 1500-US$1550 per ton (FOB).
Since Dec. 2006, the domestic prices of electrolytic manganese are surging again, because the supply of it are insufficient, especially the supply from Huaheng of Hunan and Xiushang of Chongqing, which are the top two source of manganese. Domestic sellers lift their prices to 1750-1800 US dollars pre ton (FOB) but the buyers abroad did not accepted them. The market depressed again. An analyst from Umetal.net notes that Chinese sellers may raise their prices again with the administration rules specified and the battle on prices will start again.
According to the statistics of China customs, the production and exports of unforged manganese are affected seriously since Nov. last year. Many enterprises stopped exporting and the volume of manganese exports and the number of export enterprises decreased a lot. Unforged manganese exports in November is 2.4 tons and US$31.68 million, down by 2.7 per cent and 12.9 pe ...BEIJING (Bloomberg) - China, the world's largest producer of lead, had a more than 50% gain in exports of the metal to a five-month high in November as disruptions to shipments from rival suppliers boosted prices.
Lead exports rose to 24,352 metric tonne from 15,781 tonne the previous month, the Beijing-based customs office said on Monday. It was "very profitable for Chinese producers to export the metal" after prices surged, Shenzhen Rongtuo Trading Co. analyst Pang Ying said by phone on Monday.
Lead is this year's best-performing metal, with the benchmark London Metal Exchange contract for delivery in three months rising 59% to settle at $2,650 a tonne on Dec. 21. The price rose to a record $3,890.15 a tonne on October 10.
Prices climbed this year as exports by Ivernia Inc., producer of 3% of the world's lead from its mine in Australia, were banned in March after the discovery of elevated levels of lead in some residents' blood. Ivernia has campaigned to restart exports through Fremantle, saying its plan is safe. ...Tightened supply in raw materials is still the main trouble
electrolytic manganese producers are facing. Ferro Alloys reports that
a producer in Guangxi could hardly work due to tightened supply in
manganese ore and electricity power.
In export aspect, an exporter in Hunan told Ferro Alloys that their
quoted price of electrolytic manganese flakes 99.7% is over
USD2,000/mt FOB, but transaction is slim. They have been receiving
many inquiries from foreign traders, but the high quoted price hold
buyers back. According to them, though high price is benefit for
exporters, they still feel anxious when there's few contract.
As mentioned in Monthly Comment on Electrolytic Manganese Market in
Feb 2007, one of the main reasons for the recent well performance of
the market is strong demand in export market and tightened supply, and
the situation could be changed in the coming two months if export
market became slim and domestic productions resumed. However, since
now foreign purchasers are resistant to accept high quoted price from
China's exporters, powerful demand is expected to last for a longer
time, which is a piece of good news for the whole industry. It is
predictable that electrolytic manganese market will keep the upward
trend, and price is not likely to slip in the near future....
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