SHANGHAI, Jul. 19 (SMM) –
Iron ore prices have followed rising steel prices up. Australian iron ore powder (62%) climbed to near USD 130/mt on July 17. Some market participants believe iron ore prices will have little upward impetus. Others understand that there is still room for iron ore prices to rise further should the rally in steel prices be sustainable.
Manganese Ore Market:
Trading at ports remained depressed. Firm CIF prices will lend little support to manganese ore prices at ports given the lackluster demand downstream.
In southern ports, sales volumes of South African mixed carbonate manganese ore increased and supply tightened. In northern ports, manganese ore from Mexico and Morocco gained favor.
Manganese Alloy Market:
Silicomanganese alloy market remained weak, with sluggish trading. Mainstream quotations of 65/17 silicomanganese alloy were RMB 6,700-6,800/mt (ex-works, including tax, by acceptance) in North China, and RMB 6,500-6,700/mt in South China. Mainstream traded prices of 60/14 silicomanganese alloy were RMB 5,350-5,450/mt (ex-works, excluding tax, by cash). Mainstream offers were RMB 4,600/mt (ex-works, excluding tax, by cash) for #50 non-standard silicomanganese alloy, RMB 5,100/mt for #55 non-standard silicomanganese alloy, and RMB 5,300/mt for #58 non-standard silicomanganese alloy.