China Manganese Ore Market Movement (2013-6-3)-Shanghai Metals Market

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China Manganese Ore Market Movement (2013-6-3)

SMM Insight 02:41:13PM Jun 03, 2013 Source:SMM

SHANGHAI, Jun. 3 (SMM) –

Commodity Markets:  
International gold prices tumbled again in mid-May, and still closed lower, though rebounded later. COMEX gold for August delivery closed at USD 1,393/oz last Friday. Base metals plunged in April, but rebounded in May. Ferrous metals prices remain depressed. Steel rebar futures prices recently shed 3.86% to below RMB 3,500/mt. Prices of Australian Iron ore (62% Fe, fines) dropped from USD 124/dmtu on May 27 to USD 114/mt/dmtu on May 30.     
  
Domestic Market:
Manganese ore markets at ports remained stable, with modest inquiries. SMM’s survey found that traders have no intention of cutting prices at the moment due to cost support and as manganese ore import volumes will drop in the future. Power tariff for rainy reason has not yet been cut. Continuously falling spot and futures prices of steel rebar mean steel producers will continue to push for lower manganese alloy prices. 

Transactions:
In southern ports, small amount of Malaysian manganese ore (lump) was traded, with traded prices flat with last week. In northern ports, Australian manganese ore (lump) was more popular.

Iron Ore:
Rumor is circulating that several companies including Blackstone Group and Glencore Xstrata are considering acquiring 59% stakes in Iron Ore Co. of Canada, which is one of Rio Tinto’s subsidiaries. The 59% stakes in Iron Ore Co. of Canada are worth about USD 4 billion. 

Prices of imported manganese ore are shown in the table below:
 

Origin

Grade

Jun. 3 Price

(RMB/mtu)

May 31 Price

(RMB/mtu)

Price Change

Region

Notes

 

Australia (lump)

Mn47-48%

46-46.5

46-46.5

Tianjin port

 

 

Mn47-48%

44.5-45

44.5-45

Qinzhou port, Zhanjiang Port

 

South Africa (mixed carbonate manganese ore, lump)

Mn38% Fe5%

38-38.5

38-38.5

Tianjin port, Lianyungang

 

 

Mn38% Fe5%

38.5-39

38.5-39

Qinzhou port, Fangchenggang

 

Brazil (lump)

Mn44-45%

40-41

40-41

Qinzhou port, Zhanjiang Port

 

 

Mn44-45%

42.5-43

42.5-43

Tianjin port, Lianyungang

 

Malaysia (lump)

Mn33% Fe10%

31-32

31-32

Tianjin port

 

 

Mn33% Fe10%

31-31.5

31-31.5

Zhanjiang Port, Qinzhou port

 

Notes: prices in the table refer to mainstream traded prices.

 
 

China Manganese Ore Market Movement (2013-6-3)

SMM Insight 02:41:13PM Jun 03, 2013 Source:SMM

SHANGHAI, Jun. 3 (SMM) –

Commodity Markets:  
International gold prices tumbled again in mid-May, and still closed lower, though rebounded later. COMEX gold for August delivery closed at USD 1,393/oz last Friday. Base metals plunged in April, but rebounded in May. Ferrous metals prices remain depressed. Steel rebar futures prices recently shed 3.86% to below RMB 3,500/mt. Prices of Australian Iron ore (62% Fe, fines) dropped from USD 124/dmtu on May 27 to USD 114/mt/dmtu on May 30.     
  
Domestic Market:
Manganese ore markets at ports remained stable, with modest inquiries. SMM’s survey found that traders have no intention of cutting prices at the moment due to cost support and as manganese ore import volumes will drop in the future. Power tariff for rainy reason has not yet been cut. Continuously falling spot and futures prices of steel rebar mean steel producers will continue to push for lower manganese alloy prices. 

Transactions:
In southern ports, small amount of Malaysian manganese ore (lump) was traded, with traded prices flat with last week. In northern ports, Australian manganese ore (lump) was more popular.

Iron Ore:
Rumor is circulating that several companies including Blackstone Group and Glencore Xstrata are considering acquiring 59% stakes in Iron Ore Co. of Canada, which is one of Rio Tinto’s subsidiaries. The 59% stakes in Iron Ore Co. of Canada are worth about USD 4 billion. 

Prices of imported manganese ore are shown in the table below:
 

Origin

Grade

Jun. 3 Price

(RMB/mtu)

May 31 Price

(RMB/mtu)

Price Change

Region

Notes

 

Australia (lump)

Mn47-48%

46-46.5

46-46.5

Tianjin port

 

 

Mn47-48%

44.5-45

44.5-45

Qinzhou port, Zhanjiang Port

 

South Africa (mixed carbonate manganese ore, lump)

Mn38% Fe5%

38-38.5

38-38.5

Tianjin port, Lianyungang

 

 

Mn38% Fe5%

38.5-39

38.5-39

Qinzhou port, Fangchenggang

 

Brazil (lump)

Mn44-45%

40-41

40-41

Qinzhou port, Zhanjiang Port

 

 

Mn44-45%

42.5-43

42.5-43

Tianjin port, Lianyungang

 

Malaysia (lump)

Mn33% Fe10%

31-32

31-32

Tianjin port

 

 

Mn33% Fe10%

31-31.5

31-31.5

Zhanjiang Port, Qinzhou port

 

Notes: prices in the table refer to mainstream traded prices.