China's Imports of Manganese Ore in March Slumped

SHANGHAI, May 16 (SMM) - According to the General Administration of Customs, China imported 2.11 million mt of manganese ore in March, a month-on-month decrease of 22% and a year-on-year decrease of 4%. The exports in March stood at 10,000 mt. The imports totalled 7.28 million mt from January to March, up 15.92% on the year, and the exports were 22,400 mt. In March, the SiMn alloy sector which saw a decline in SiMn alloy prices made fewer inquiries on spot manganese ore. In terms of the steel mills, their profit margins dropped MoM in March on rising crude steel output during the month and unimproved steel demand, so the mills had to cut their production, weighing on SiMn alloy demand and prices. The sluggish SiMn alloy market further reduced the import volume of manganese ore.