The Platts Chinese 99.7% electrolytic manganese export price stood at $2,030-2,060/mt FOB basis Thursday, December 4, down from $2,050-2,100/mt last week.
Lower domestic manganese prices due to prevailing weak demand from stainless steel producers continued to be a main factor pushing export prices down, market participants said.
A seasonal year-end holiday lull and cashflow concerns added further pressure, they said.
A Chinese seller said he had been offering at $2,060/mt since Monday but had seen no interest so far.
Another quoted $2,050-2,060/mt FOB as the current tradable level, but said no trades had been concluded.
On Thursday, a Japanese steelmaker in western Japan was heard to have bought 100-200 mt for January loading at $2,030/mt CIF main west Japan port, but the trade has yet to be confirmed.
A China-based trader who buys for Japanese customers said $2,030/mt CIF basis was "a bit low and unlikely ... but $2,030/mt FOB may be possible."
A South Korean trader said he was offered at $2,050/mt CIF Korean ports this week, "which puts FOB China around $2,030/mt."
A Posco buy tender was heard to have settled Thursday at an even lower $1,850/mt for 200 mt January and 200 mt February delivery, but Posco could not be reached for comment Thursday.
"If that is the case, then prices will fall even further in the short term," the South Korean trader said.
In China, domestic ex-works manganese prices were pegged mostly around Yuan 12,200/mt ($1,987/mt) Thursday, down Yuan 100-200/mt from last week, sellers and buyers said.
Prices are expected to stay weak in the near term, which could result in production cutbacks from manganese metal producers, sources added.
