China Manganese Ore Market Movement (2013-6-13)-Shanghai Metals Market

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China Manganese Ore Market Movement (2013-6-13)

Price Review & Forecast 02:31:30PM Jun 13, 2013 Source:SMM

SHANGHAI, Jun. 13 (SMM) –

Steel Market:  
The average price of HRB400 in major Chinese cities inched down RMB 22/mt during the Chinese Dragon Boat Festival. Rebar prices in Shanghai were RMB 3,270/mt, down RMB 50/mt from last Friday. Baosteel lowered prices for select categories of steel products by RMB 100-500/mt for July, a sign of pessimism over steel prices in the future. Data from the China Iron & Steel Association (CISA) show that crude steel output at CISA members totaled 1.71 million mt in late May, 1.8% off late April. Average daily crude steel output across China was estimated at 2.15 million mt in the same period, also down 1.4% from late April. 

Domestic Market:
Trading of imported manganese ore at ports was stagnant. Inquiries of Australian manganese ore (granule) and Brazilian manganese ore (fines) outpaced others, but trading was light due to supply tightness. Brazilian manganese ore (fines) in the Port of Zhanjiang will pass Customs clearance on June 20. Trading volumes may increase along with growing supply by then. 

Transactions:
In the Port of Tianjin, Australian manganese ore (lump, granule) gained favor. In the Port of Qinzhou, Malaysian and Australian manganese ore (lump) were more popular. 

Macro News:
China’s investment, exports and consumption in May all missed forecasts. Social financing hit RMB 1.19 trillion, down more than 30% from April. PPI and industrial value-added both hit new lows. These downbeat figures weighted down commodity prices. 

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

Origin

Grade

Jun. 13 Price

(RMB/mtu)

Jun. 7 Price

(RMB/mtu)

Price Change

Region

Notes

 

Australia (lump)

Mn47-48%

45-45.5

45-45.5

Tianjin port

 

 

Mn47-48%

44.5-45

44.5-45

Qinzhou port, Zhanjiang Port

 

South Africa (mixed carbonate manganese ore, lump)

Mn38% Fe5%

37.5-38

37.5-38

Tianjin port, Lianyungang

 

 

Mn38% Fe5%

37.5-38.5

37.5-38.5

Qinzhou port, Fangchenggang

 

Brazil (lump)

Mn44-45%

40-41

40-41

Qinzhou port, Zhanjiang Port

 

 

Mn44-45%

41-42.5

41-42.5

Tianjin port, Lianyungang

 

Malaysia (lump)

Mn33% Fe10%

30-31

30-31

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 (2013-6-13)

Price Review & Forecast 02:31:30PM Jun 13, 2013 Source:SMM

SHANGHAI, Jun. 13 (SMM) –

Steel Market:  
The average price of HRB400 in major Chinese cities inched down RMB 22/mt during the Chinese Dragon Boat Festival. Rebar prices in Shanghai were RMB 3,270/mt, down RMB 50/mt from last Friday. Baosteel lowered prices for select categories of steel products by RMB 100-500/mt for July, a sign of pessimism over steel prices in the future. Data from the China Iron & Steel Association (CISA) show that crude steel output at CISA members totaled 1.71 million mt in late May, 1.8% off late April. Average daily crude steel output across China was estimated at 2.15 million mt in the same period, also down 1.4% from late April. 

Domestic Market:
Trading of imported manganese ore at ports was stagnant. Inquiries of Australian manganese ore (granule) and Brazilian manganese ore (fines) outpaced others, but trading was light due to supply tightness. Brazilian manganese ore (fines) in the Port of Zhanjiang will pass Customs clearance on June 20. Trading volumes may increase along with growing supply by then. 

Transactions:
In the Port of Tianjin, Australian manganese ore (lump, granule) gained favor. In the Port of Qinzhou, Malaysian and Australian manganese ore (lump) were more popular. 

Macro News:
China’s investment, exports and consumption in May all missed forecasts. Social financing hit RMB 1.19 trillion, down more than 30% from April. PPI and industrial value-added both hit new lows. These downbeat figures weighted down commodity prices. 

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

Origin

Grade

Jun. 13 Price

(RMB/mtu)

Jun. 7 Price

(RMB/mtu)

Price Change

Region

Notes

 

Australia (lump)

Mn47-48%

45-45.5

45-45.5

Tianjin port

 

 

Mn47-48%

44.5-45

44.5-45

Qinzhou port, Zhanjiang Port

 

South Africa (mixed carbonate manganese ore, lump)

Mn38% Fe5%

37.5-38

37.5-38

Tianjin port, Lianyungang

 

 

Mn38% Fe5%

37.5-38.5

37.5-38.5

Qinzhou port, Fangchenggang

 

Brazil (lump)

Mn44-45%

40-41

40-41

Qinzhou port, Zhanjiang Port

 

 

Mn44-45%

41-42.5

41-42.5

Tianjin port, Lianyungang

 

Malaysia (lump)

Mn33% Fe10%

30-31

30-31

Tianjin port

 

 

Mn33% Fe10%

31-31.5

31-31.5

Zhanjiang Port, Qinzhou port

 

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