Club chairman Huw Jenkins recently denied claims Swansea had agreed a deal with Serie A side Napoli, although the Italian club and Atletico Madrid are reported to still be interested in the forward.
The 28-year-old has two years left on his current deal at the Liberty Stadium, but the Spain international endured an injury-plagued campaign last season which limited him to just 15 starts and only two goals.
Former Rayo Vallecano striker Michu netted 22 goals in his first term with Swansea, topping the club’s goal-scoring chart, and Monk sees the Spaniard as a key member of his squad.
"I'm meeting Michu at the end of the week and we'll talk about things,” Monk told the South Wales Evening Post. “He's a quality player, a great lad, someone who scores goals so there will always be interest in someone like that.
"We will sit down and see the best way to go forward, but as far as I'm concerned he's a Swansea City player and I hope that continues.
"I want him to stay, but we're the same as every club in the world. If an offer comes in and it's right for the club and the player feels he wants to move on, then you discuss it.
"As it stands we've had nothing concrete so there's nothing to discuss."
Should Michu leave the Liberty Stadium this summer, his departure could be offset by the arrival of France international striker Bafetimbi Gomis, who will join the club on a four-year deal subject to international clearance.