SHANGHAI, Jul. 24 (SMM) –
Manganese Ore Market:
Trading at ports remained lackluster. South African mixed carbonate manganese ore was offered at USD 4.5/mtu (CIF) by BHP yesterday, which had less effect than expected. Some will not place orders since they believe the offer will leave little room for profits. Others, however, will stick to their normal purchasing plans.
In northern ports, a small quantity of Australian manganese ore and South African mixed carbonate manganese ore was traded. In southern ports, a small amount of Australian manganese ore was traded and trading of Malaysian manganese ore was stable.
Manganese Alloy Market:
Wuhan Iron & Steel and Guangdong Shaoguan Iron & Steel have begun bid invitation for silicomanganese alloy for delivery in August. Most fear bid prices by steel producers might fall given the depressed steel industry and severe overcapacity in silicomanganese alloy market.
Baosteel Zhanjiang Iron & Steel broke ground on its steel plant on July 23. The facility is scheduled to enter operations in December 2015. #1 and #2 converters will enter production by December 2015 and #3 converter will go into operations by September 2016.