China Manganese Ore Market Movement (2013-3-18)

SHANGHAI, Mar. 18 (SMM) -

Domestic market:
Prices of imported manganese ore fell back, especially South African mixed carbonate manganese ore in both southern and northern ports as cargo holders cut offers against tepid downstream demand. Some market players told SMM that they are now selling in small amounts and will not lower offers sharply since they have only ordered a limited quantity of goods for long-term contracts.

Transactions:
In northern ports, manganese alloy producers said that prices for high-grade manganese ore fell some, but were still considered high, so trading volumes of such manganese ore were thin. Most of the goods bought fall into South African mixed carbonate manganese ore, Australian manganese ore (lump) and goods from Turkey and Cote d'Ivoire. In southern ports, demand was anemic. Traded prices in the region were RMB 2-3/mtu lower than in northern ports, but trading remained light.

Manganese ore available for sale at ports were in tight supplies, lending some support to manganese ore prices. That being said, cargo holders will sell off inventories should they suffer liquidity crunch. In this context, buyers may as well purchase on an as-needed basis.