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[Minor metal] European Manganese Sheet Inventories Decline, with Stable Price

[Al] CBI Daily Review - 2009/4/7 Aluminum Market

SHANGHAI, Apr. 7 (CBI China) -- Manganese sheet inventories declined in Rotterdam, with slim transactions. The price of manganese sheet remained stable in European market.
&nbsp;&nbsp;&nbsp; The local insiders reveal the price was USD 2,200-2,450/mt in Rotterdam, with the trading price at USD 2,300/mt.
&nbsp;&nbsp;&nbsp; This year, the demand for manganese alloy experienced sharp declines in Europe compared to last year. However, the spot inventories have been used up in Rotterdam, so the price can remain stable.
&nbsp;&nbsp;&nbsp; A local trader said the inventories of Chinese suppliers in Rotterdam were limited, and it was not easy to find goods. He said the declines in inventories were attributed to the cautious attitude of the buyers and sellers since the end of last year. The spot market was sluggish, with the spot price at USD 2,350/mt.
&nbsp;&nbsp;&nbsp; Two large steel mills said the purchase price was higher than the current mainstream price during the past two weeks, and the market insiders predict the price will be around USD 2,400/mt.
&nbsp;&nbsp;&nbsp; Another European trader said Chinese government tried to maintain the price level through the tariff adjustment and to boost the market.
&nbsp;&nbsp;&nbsp; The manganese price has ever risen in early March. Currently, most of traders believe the manganese price will remain stable. The low price of manganese ore and alloy indicates the weary demand, so the buyers will be cautious about the purchase and stock buildups. 
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