China Manganese Ore Market Movement (2013-3-13)

SHANGHAI, Mar. 13 (SMM) -

Domestic market:
Trading volumes at Chinese ports remained thin. Traders and manganese alloy producers were pessimistic over future prices, sending spot manganese ore at ports down slightly. SMM’s survey found that operating rates at manganese alloy producers in Guizhou, Sichuan and Hunan remained low. As such, producers in these provinces were little interested in importing manganese ore. Some traders may move goods at lower prices in the future against liquidity crunch, putting further downward pressure on manganese ore prices.  

Transactions:
In southern ports, sales volumes in the Port of Qinzhou were higher than in Zhanjiang and Fangcheng. With both operating rates and manganese alloy prices being lower than in north China, most manganese alloy producers continued to watch from the sidelines. In northern ports, spot manganese ore prices remained high, but inquiries were rarely heard. 
 
BHP is now quoting manganese ore on a weekly basis instead of previous monthly basis. Manganese ore prices are trending down in Chinese ports, while CIF prices for imported manganese ore have kept rising, further widening the price spread between domestic and overseas manganese ore.