Spot export offers of Chinese electrolytic manganese metal (EMM) on an FOB basis were steady this week after several weeks of rises, industry sources said Friday.
Sources noted the Chinese yuan had held steady against the dollar this week and that there was no significant change in the demand in view of the summer lull.
The dollar was trading at Yuan 6.6744 Friday, compared with Yuan 6.6642 last Friday and Yuan 6.7132 two weeks ago.
The 99.7% manganese export price was assessed at $1,620-$1,680/mt FOB China Friday, unchanged from last week as indications were generally heard within the range.
A South Korean trader put offers at $1,650-$1,700/mt CIF South Korea, while a second South Korean trader heard offers at $1,630-$1,650/mt and said the freight to South Korea from China was about $10/mt.
A south China-based trader said offers were at around $1,620/mt FOB, down slightly from last week, while a northwest China-based trader reckoned offers to be steady around $1,640/mt FOB and a southwest China-based producer put offers steady around $1,700/mt FOB and Yuan 11,000/mt ($1,650/mt) ex-works.
