[Zn] News Express - Zhufeng Zinc Industry Company

SYDNEY, July 2 -- While it is marked to see how do major manganese mines propose price of manganese ore for shipments to China in July and afterwards, a major manganese mine in Australia has offered medium grade lumpy manganese ore with Mn 44% at USD 3.50 per Mn 1% CIF China and is moving to negotiate with regular consumers in China on this subject.
&nbsp;&nbsp;&nbsp; This proposal means to remain the price of manganese ore for July shipment to China on the same level as that settled for April - June quarter and price of manganese ore for China continued to fall from January to March quarter of 2009 but has at last bottomed out.
&nbsp;&nbsp;&nbsp; According to an information from China, spot price of medium grade manganese ore has already rebounded to a level of USD 4 per Mn 1% CIF, having risen by 50 to 100 US cents per Mn 1% from the bottom.
&nbsp;&nbsp;&nbsp; However, although the price of medium grade manganese ore for July shipments to China has been proposed to remain unchanged, ferroalloy producers in China seem to have already concluded the contracts on substantial quantities of manganese ores to be shipped in 2009, in order to cope with the offensive taken by major mines in April to May of 2009 to sell manganese ores at discounted prices.
&nbsp;&nbsp;&nbsp; (Source: TEX Report Limited)