SHANGHAI, Mar. 22 (SMM) -

Domestic market:
Spot manganese ore prices at Chinese ports slid, with the exception of South African high-iron manganese ore. A RMB 1-2/mtu price decline was reported in southern ports, compared with a RMB 1/mtu drop in northern ports. Trading activity was thin. According to SMM’s survey, operating rates were around 50% at manganese alloy producers in north China, with little likelihood of rising as most intend to suspend production. Operating rates were even lower at 20% in the south. Some market players note that downstream producers may step up purchases of manganese ore in preparation for the upcoming high-water period, given the current sharp declines in manganese ore prices in south China.

Transactions:
China’s southern and northern ports saw thin trading activity. Overseas suppliers have been raising CIF price, while manganese alloy plants are pushing for lower input costs, plaguing domestic manganese ore traders. 

Sharp price declines have left manganese ore traders bearish over current prices. On the other hand, the approaching high-water period in the south and a slight rebound in steel product prices have kept traders relatively optimistic over future outlook.