China Manganese Ore Market Movement (2013-6-4)-Shanghai Metals Market

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China Manganese Ore Market Movement (2013-6-4)

SMM Insight 01:38:51PM Jun 04, 2013 Source:SMM

SHANGHAI, Jun. 4 (SMM) –

Iron Ore:  
As of May 31, iron ore inventories at 30 Chinese ports totaled 71.83 million mt, an increase of 1.28 million mt on a weekly basis. Iron ore prices are falling sharply, with trading volumes down as well. Steel producers mostly hold to the sidelines against falling raw material prices, further dampening market sentiment. SMM believes China’s economic slowdown is behind the sagging iron ore prices and demand.  

Domestic Market:
Inquiries were modest. Prices of mainstream manganese ore inched down, but aggressive sell-off of low-priced goods has not yet been reported. Traders are now holding back goods, but are still pessimistic over future manganese ore prices. This is because steel mills will push for lower manganese alloy prices against seasonally low-demand period for steel consumption in June and supply overhang of steel. This, in turn, will weigh down imported manganese ore prices at ports.

Transactions:
Mainstream manganese ore still gained more favor, with trading volumes flat with yesterday.

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

Origin

Grade

Jun. 4 Price

(RMB/mtu)

Jun. 3 Price

(RMB/mtu)

Price Change

Region

Notes

 

Australia (lump)

Mn47-48%

46

46-46.5

↓0.25

Tianjin port

 

 

Mn47-48%

44.5-45

44.5-45

Qinzhou port, Zhanjiang Port

 

South Africa (mixed carbonate manganese ore, lump)

Mn38% Fe5%

38

38-38.5

↓0.25

Tianjin port, Lianyungang

 

 

Mn38% Fe5%

38.5

38.5-39

↓0.25

Qinzhou port, Fangchenggang

 

Brazil (lump)

Mn44-45%

40-41

40-41

Qinzhou port, Zhanjiang Port

 

 

Mn44-45%

42.5

42.5-43

↓0.25

Tianjin port, Lianyungang

 

Malaysia (lump)

Mn33% Fe10%

31

31-32

↓0.5

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 (2013-6-4)

SMM Insight 01:38:51PM Jun 04, 2013 Source:SMM

SHANGHAI, Jun. 4 (SMM) –

Iron Ore:  
As of May 31, iron ore inventories at 30 Chinese ports totaled 71.83 million mt, an increase of 1.28 million mt on a weekly basis. Iron ore prices are falling sharply, with trading volumes down as well. Steel producers mostly hold to the sidelines against falling raw material prices, further dampening market sentiment. SMM believes China’s economic slowdown is behind the sagging iron ore prices and demand.  

Domestic Market:
Inquiries were modest. Prices of mainstream manganese ore inched down, but aggressive sell-off of low-priced goods has not yet been reported. Traders are now holding back goods, but are still pessimistic over future manganese ore prices. This is because steel mills will push for lower manganese alloy prices against seasonally low-demand period for steel consumption in June and supply overhang of steel. This, in turn, will weigh down imported manganese ore prices at ports.

Transactions:
Mainstream manganese ore still gained more favor, with trading volumes flat with yesterday.

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

Origin

Grade

Jun. 4 Price

(RMB/mtu)

Jun. 3 Price

(RMB/mtu)

Price Change

Region

Notes

 

Australia (lump)

Mn47-48%

46

46-46.5

↓0.25

Tianjin port

 

 

Mn47-48%

44.5-45

44.5-45

Qinzhou port, Zhanjiang Port

 

South Africa (mixed carbonate manganese ore, lump)

Mn38% Fe5%

38

38-38.5

↓0.25

Tianjin port, Lianyungang

 

 

Mn38% Fe5%

38.5

38.5-39

↓0.25

Qinzhou port, Fangchenggang

 

Brazil (lump)

Mn44-45%

40-41

40-41

Qinzhou port, Zhanjiang Port

 

 

Mn44-45%

42.5

42.5-43

↓0.25

Tianjin port, Lianyungang

 

Malaysia (lump)

Mn33% Fe10%

31

31-32

↓0.5

Tianjin port

 

 

Mn33% Fe10%

31-31.5

31-31.5

Zhanjiang Port, Qinzhou port

 

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