China Manganese Ore Market Movement (2013-3-8)

SHANGHAI, Mar. 8 (SMM) --

Domestic market:

Transactions at lower prices were also reported, despite that offers largely remained stable at ports in north and south China. SMM believes that manganese ore prices will face pressure to fall with more arrivals in the future. It was reported that a ship from Brazil carrying around 100,000 mt of manganese ore will arrive at China. According to SMM sources, price spread of manganese ore in north market and south market is considerable, with offers between RMB 46-47/mtu for manganese ore (Mn 44-45%) in South China and RMB 45/mtu for manganese ore (Mn 46%) in south China. According to traders, traders in north market met difficulties in moving goods at current high prices, while traders in south China also adopted a wait-and-see attitude.

Transactions:

Transactions in north China were largely manganese ore imported from Australia, South Africa and Gabon. Traded prices only slipped slightly for manganese ore from South Africa and were stable from other origins. However, purchases from alloy producers in South China were still not active.
In general, as manganese ore imported from Turkey and South Africa will gradual arrive at ports, oversupply pressure of manganese will further grow. Traders all expected to move goods in order to lower risks from price decline.