Platts kept the 99.7% manganese export price steady at $1,400-1,450/mt FOB China Friday, unchanged from a week ago as most of the heard bids and offers were within the range.
"There's nothing much in the market. Demand is still weak," said a south central China-based producer who was offering at Yuan 9,100/mt ($1,423/mt) ex-works and $1,450/mt FOB, compared with Yuan 9,200/mt and $1,450-$1,480/mt, respectively, last week.
A northwest China-based producer agreed and added that the market had been quiet as the demand was missing.
He noted that mainstream FOB offers were at $1,400-1,450/mt though indications at slightly below $1,400/mt were also heard and domestic offers were at Yuan 9,000/mt ex-works.
A northwest China-based trader and a south central China-based trader said domestic offers had actually gained slightly on tightening supply though the demand had generally remained steady.
"There's no movement in the FOB offers, which are holding steady at $1,400-1,450/mt, but the domestic price has gone up slightly. I'm hearing Yuan 9,000-9,100/mt ex-works. Offers at Yuan 8,800-8,900/mt are no longer available," said the northwestern Chinese trader.
The southern central Chinese trader agreed and added: "The production cuts and stoppages due to weak prices had reduced the supply in the market. Currently available stocks are slowly being used up. The demand, however, has generally remained steady."
A China-based Japanese trader said he had heard offers below $1,400/mt CIF Japan. The freight from China to Japan is $10-20/mt.
But he also thought the demand was extremely weak.
A South Korean trader said the below $1,400/mt CIF Japan indication was too low as she had heard offers at $1,420/mt CIF South Korea. The freight from China to South Korea is about $20/mt.
Meanwhile, sources said that the recent plunge in aluminum and copper prices affected by weaker prices on the London Metal Exchange on poor fundamentals and a strong dollar had exerted pressure on all commodities.
The dollar was trading at Yuan 6.3915 Friday, compared with Yuan 6.3867 Monday and Yuan 6.3780 last Friday.
December nickel futures closed at Yuan 68,950/mt on the Shanghai Futures Exchange Friday, compared with Yuan 65,440/mt Monday and Yuan 68,480/mt last Friday.
Nickel stocks in the SHFE warehouses stood at 38,712 mt, up 2.8% week on week.
On Thursday, the London Metal Exchange official cash price for nickel was $9,110-9,120/mt, compared with $8,150-8,160/mt Monday and $8,895-8,900/mt last Friday.
Both EMM and nickel are used for stainless steel.
