SHANGHAI, Mar. 5 (SMM) –
Domestic market:
Trading at ports remained stagnant, and growing arrivals have increased oversupply pressure of manganese ore. SMM survey found that manganese ore imported from South Africa, Australia, Brazil and Gabon are arriving at Chinese ports steadily, most of which was ordered in February, but was delayed from shipping due to the Chinese New Year holiday. Cargo holders at ports held offers not as firm as before, partly because RMB 50-100/mt price decline in manganese alloy in March and oversupply pressure of imported manganese ore. In this context, manganese alloy producers showed high intention of halting production. Besides, some manganese alloy producers are selling manganese ore arrived earlier, also weighing down manganese ore prices. SMM believes that manganese ore prices in China’s domestic markets will fall short of those in overseas markets given that prices overseas are firm at the moment.
Transactions:
Ore with high manganese content is arriving at ports in large quantities. Besides, with operating rates being low at the moment, downstream producers generally purchased on an as-needed basis.
To sum up, manganese alloy producers were forced to cut or suspend production against falling alloy prices. Cargo holders of manganese ore were anxious to sell, putting downward pressure on manganese ore prices.
Grade
|
Mar.5Price
(RMB/mtu)
|
Mar. 4 Price
(RMB/mtu)
|
Price Change
|
Region
|
Note
|
|
South Africa
(high Fe, lump)
|
Mn32% Fe20%
|
38-38.5
|
38-38.5
|
→
|
Tianjin port
|
|
Mn32% Fe20%
|
38.5
|
38.5
|
→
|
Qinzhou port
|
||
Mn35-36% Fe18%
|
38.5
|
38.5
|
→
|
Qinzhou port, Zhanjiang port
|
|
|
Mn35-36% Fe18%
|
38-38.5
|
38-38.5
|
→
|
Tianjin port, Lianyungang
|
||
South Africa
(medium Fe, lump)
|
Mn45% Fe12%
|
39.5-40
|
39.5-40
|
→
|
Tianjin port, Lianyungang
|
|
South Africa (carbonate manganese ore, lump)
|
Mn38% Fe5%
|
41.5-43
|
41.5-43
|
→
|
Tianjin port, Lianyungang
|
|
Mn38% Fe5%
|
41-41.5
|
41-41.5
|
→
|
Qincheng port, Fangchenggang port
|
||
South Africa
|
Mn38% Fe5%
|
-
|
-
|
→
|
Tianjin port
|
|
Mn38% Fe5%
|
-
|
-
|
→
|
Zhanjiang port, Fangchenggang port
|
||
South Africa (fines)
|
Mn38% Fe5%
|
-
|
-
|
→
|
Tianjin port
|
|
Mn38% Fe5%
|
-
|
-
|
→
|
Qinzhou port
|
||
Australia (lump)
|
Mn46%
|
45.5-46.5
|
45.5-46.5
|
↑
|
Tianjin port, Lianyungang
|
|
Mn46%
|
45-46
|
45-46
|
↑
|
Qinzhou port, Zhanjiang port
|
||
Australia (lump)
|
Mn48%
|
46.5-47
|
46.5-47
|
↑
|
Tianjin port
|
|
Mn48%
|
46.5-47
|
46.5-47
|
↑
|
Qinzhou port, Zhanjiang port
|
||
Australia (high Si, lump)
|
Mn36% Si20%
|
45.5-49
|
45.5-49
|
↑
|
Tianjin port
|
|
Australia (medium Fe, lump)
|
Mn36-37% Fe16%
|
45-45.5
|
45-45.5
|
↑
|
Tianjin port
|
|
Australia (medium Fe, lump)
|
Mn36-37% Fe16%
|
41.5-42
|
41.5-42
|
→
|
Qinzhou port
|
|
Australia (high Fe, lump)
|
Mn32% Fe20%
|
41-41.5
|
41-41.5
|
→
|
Tianjin port
|
|
Australia (granule)
|
Mn48%
|
37-37.5
|
-
|
→
|
Tianjin port, Lianyungang
|
|
Mn48%
|
35-35.5
|
-
|
→
|
Qinzhou port
|
||
Mn50%
|
-
|
-
|
→
|
Qinzhou port
|
||
Mn50%
|
42-43
|
42-43
|
→
|
Tianjin port, Lianyungang
|
||
Australia (granule)
|
Mn44%
|
43-43.5
|
43-43.5
|
→
|
Tianjin port, Lianyungang
|
|
Mn44%
|
─
|
─
|
→
|
Qinzhou port, Zhanjiang port
|
||
Gabon (lump)
|
Mn44-45%
|
─
|
─
|
→
|
Tianjin port, Lianyungang
|
|
Mn44-45%
|
─
|
─
|
→
|
Qinzhou port, Zhanjiang port
|
||
Brazil (lump)
|
Mn44-45%
|
44-48
|
44-48
|
↑
|
Qinzhou port, Zhanjiang port
|
|
Mn44-45%
|
43-44
|
43-44
|
↑
|
Tianjin port, Lianyungang
|
||
Brazil (fines)
|
Mn44-45%
|
-
|
-
|
↑
|
Tianjin port
|
|
Mn44-46%
|
38-39
|
38-39
|
↑
|
Zhanjiang port
|
For queries, please contact Michael Jiang at michaeljiang@smm.cn
For more information on how to access our research reports, please email service.en@smm.cn