Metals

Ample supply of -194 material cif Europe weighs on price

CBCIE Time:Sep 07, 2019 09:40 Source:IM

China

  • The market for fine flake material, especially 94% C, -100 mesh, was stable with suppliers reporting deals done at the same assessment price as last week.

  • Suppliers reported increased buying interest from overseas consumers. But some traders expected that the traditional restocking ahead of winter would not happen this year because of the abundance of materials from African suppliers.

  • The outlook is bearish and some consumers said the bottom has yet to be reached.

  • Prices for amorphous grades were unchanged, with most market sources expecting a steady, quiet market.

Europe

  • The price of 94% C, -100 mesh material, cif Europe (-194) dropped in response to the availability of material on the market at or below $450 per tonne, which has weighed on the market.

  • But some suppliers in China in particular have attempted to keep their offer prices at or above $500 per tonne.

  • The markets for other flake products were stable. The current low prices were unsustainable, according to one market participant, who thought they could start to recover this winter.

  • The amorphous market was also stable, although there were reports of lower offer prices from China.

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