China Manganese Ore Market Movement (2013-10-8)-Shanghai Metals Market

Hot Keywords

  • Inventory data
  • NPI
  • Zinc
  • Market commentary
  • Production data
  • Macroeconomics
  • Aluminium
  • Morning comments
  • Futures movement
  • Mengtai Group
  • Copper
  • Stainless steel
  • Nickel
  • In the United States
  • trade negotiations

China Manganese Ore Market Movement (2013-10-8)

Price Review & Forecast 02:01:02PM Oct 08, 2013 Source:SMM

SHANGHAI, Oct. 8 (SMM) –

Manganese Ore Market:
Trading at ports was depressed on the first trading day after the Chinese National Day holiday. Most traders held offers little changed from pre-holiday levels, while some held back from giving offers. A few manganese ore traders are planning to hike quotations given the turnaround in silicomanganese alloy market. Manganese alloy producers were inquiring just to test the water, with transactions rarely concluded.  

Manganese Alloy Market:
Large steel producers including Hebei Iron & Steel Group raised silicomanganese alloy tender prices for October delivery by RMB 50-100/mt. This allowed silicomanganese alloy producers and traders to hold offers firm, with little intention of selling at lower prices. 

Steel Market:
Steel-PMI slipped 4.2 percentage points from a month earlier to 49.2% in September, the CFLP Steel Logistics Professional Committee announced. The index retreated from 50% again after two consecutive months of rise, indicating growing imbalance in steel supply and demand. Growing crude steel output is exacerbating oversupply pressure in the market. Production sub-index was 53% in September, down 1.1 percentage points from August and staying above 50% for three months in a row. New order sub-index, however, slid 8.9 percentage points MoM to 49.2%. Purchaser Price Index in steel industry also edged down 19.9 percentage points to 55.5%.  

Overseas News:
Indonesia will probably not impose a full ban on the exports of unprocessed ore in 2014 as this move will lead to mass unemployment in producing regions, said Jim Lennon, Commodities Consultant at Macquarie Group. Although the country is planning to prohibit exports of raw ores, the government is considering some exemptions for companies that already have smelters or are planning to build them. 

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

Origin

Grade

Oct. 8 Price

(RMB/mtu)

Sept. 30 Price

(RMB/mtu)

Price Change

Region

Notes

 

Australia (lump)

Mn47-48%

41-42

41-42

Tianjin port

 

 

Mn47-48%

41-41.5

41-41.5

Qinzhou port, Zhanjiang Port

 

South Africa (mixed carbonate manganese ore, lump)

Mn38% Fe5%

34.5-35

34.5-35

Tianjin port, Lianyungang

   

Mn38% Fe5%

34-34.5

34-34.5

Qinzhou port, Fangchenggang

 

Brazil (lump)

Mn44-45%

37

37

Qinzhou port, Zhanjiang Port

 

 

Mn44-45%

37-37.5

37-37.5

Tianjin port, Lianyungang

 

Malaysia (lump)

Mn33% Fe10%

30

30

Tianjin port

 

 

Mn33% Fe10%

30

30

Zhanjiang Port, Qinzhou port

 

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

 
 

China Manganese Ore Market Movement (2013-10-8)

Price Review & Forecast 02:01:02PM Oct 08, 2013 Source:SMM

SHANGHAI, Oct. 8 (SMM) –

Manganese Ore Market:
Trading at ports was depressed on the first trading day after the Chinese National Day holiday. Most traders held offers little changed from pre-holiday levels, while some held back from giving offers. A few manganese ore traders are planning to hike quotations given the turnaround in silicomanganese alloy market. Manganese alloy producers were inquiring just to test the water, with transactions rarely concluded.  

Manganese Alloy Market:
Large steel producers including Hebei Iron & Steel Group raised silicomanganese alloy tender prices for October delivery by RMB 50-100/mt. This allowed silicomanganese alloy producers and traders to hold offers firm, with little intention of selling at lower prices. 

Steel Market:
Steel-PMI slipped 4.2 percentage points from a month earlier to 49.2% in September, the CFLP Steel Logistics Professional Committee announced. The index retreated from 50% again after two consecutive months of rise, indicating growing imbalance in steel supply and demand. Growing crude steel output is exacerbating oversupply pressure in the market. Production sub-index was 53% in September, down 1.1 percentage points from August and staying above 50% for three months in a row. New order sub-index, however, slid 8.9 percentage points MoM to 49.2%. Purchaser Price Index in steel industry also edged down 19.9 percentage points to 55.5%.  

Overseas News:
Indonesia will probably not impose a full ban on the exports of unprocessed ore in 2014 as this move will lead to mass unemployment in producing regions, said Jim Lennon, Commodities Consultant at Macquarie Group. Although the country is planning to prohibit exports of raw ores, the government is considering some exemptions for companies that already have smelters or are planning to build them. 

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

Origin

Grade

Oct. 8 Price

(RMB/mtu)

Sept. 30 Price

(RMB/mtu)

Price Change

Region

Notes

 

Australia (lump)

Mn47-48%

41-42

41-42

Tianjin port

 

 

Mn47-48%

41-41.5

41-41.5

Qinzhou port, Zhanjiang Port

 

South Africa (mixed carbonate manganese ore, lump)

Mn38% Fe5%

34.5-35

34.5-35

Tianjin port, Lianyungang

   

Mn38% Fe5%

34-34.5

34-34.5

Qinzhou port, Fangchenggang

 

Brazil (lump)

Mn44-45%

37

37

Qinzhou port, Zhanjiang Port

 

 

Mn44-45%

37-37.5

37-37.5

Tianjin port, Lianyungang

 

Malaysia (lump)

Mn33% Fe10%

30

30

Tianjin port

 

 

Mn33% Fe10%

30

30

Zhanjiang Port, Qinzhou port

 

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