Consolidated Mineral expects 'significant price increases' for manganese |
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Published
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Mon, 25 Jun 2007 09:58
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LONDON (Thomson Financial) - Consolidated Minerals Ltd said it expects to achieve 'significant price increases' for its manganese for the period from August to October, on that back of unusual supply tightness experienced by international and Chinese domestic suppliers.It said price negotiations for deliveries of its high grade lump manganese ore for the September quarter are nearing completion.It said prices for lump manganese ore for China shipments have been confirmed in the range of 7.25 to 7.50 usd per dry metric ton unit (dmtu) CIF, just over double the average price received in the second half of 2007 of 3.55 usd.The landed manganese prices (CIF) include insurance, agent commissions and freight costs.Consolidated Minerals said it expects the average price received for manganese lump ore for the whole of 2007 to be about 2.35 usd/dmtu FOB (free on board), against guidance of 2.30 usd/dmtu.Separately, the company said Pallinghurst Investor is planning to increase the cash component of its offer for Consolidated Minerals by 30 cents per share.TFN.newsdesk@thomson.comypv/tsm/lceCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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UK smallcap opening - Consolidated Minerals climbs on increased Pallinghurst bid 