China Manganese Ore Market Movement (2013-10-16)-Shanghai Metals Market

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China Manganese Ore Market Movement (2013-10-16)

Price Review & Forecast 03:14:27PM Oct 16, 2013 Source:SMM

SHANGHAI, Oct. 16 (SMM) –

Manganese Ore Market:
Manganese ore traders were anxious to sell out of fear that alloy producers in south China will scale back production against rising power tariffs with the onset of the dry season. Prices for Australian manganese ore fell in southern ports. However, most suppliers held offers firm due to high costs.   

Transactions:
In northern ports, a small amount of South African manganese ore was traded. In southern ports, small quantities of manganese ore from Australia were sold.

Manganese Alloy Market:
Silicomanganese alloy remains in short supply. Alloy producers will cut or halt production after power tariffs are hiked with the arrival of the dry season, which will further tighten supply. Producers are anticipating a rise in alloy prices, but SMM believes a sharp increase in prices is impossible given the lackluster steel market.

Steel Market:
China’s Ministry of Industry & Information Technology (MIIT) released the State Council’s Guidelines on Addressing Overcapacity on October 15th. The Guidelines targets steel, cement, aluminum, sheet glass and ship-building sectors, all of which are suffering from chronic capacity surplus. In response, Shandong, Hebei, Liaoning, Jiangsu, Jiangxi and Shanxi provinces will push ahead with steel industry restructuring, with over 80 million mt of steel capacity to be eliminated. 

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

Origin

Grade

Oct. 16 Price

(RMB/mtu)

Oct. 15 Price

(RMB/mtu)

Price Change

Region

Notes

 

Australia (lump)

Mn47-48%

41-42

41-42

Tianjin port

 

 

Mn47-48%

40.5-41

41-41.5

↓0.5

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 (2013-10-16)

Price Review & Forecast 03:14:27PM Oct 16, 2013 Source:SMM

SHANGHAI, Oct. 16 (SMM) –

Manganese Ore Market:
Manganese ore traders were anxious to sell out of fear that alloy producers in south China will scale back production against rising power tariffs with the onset of the dry season. Prices for Australian manganese ore fell in southern ports. However, most suppliers held offers firm due to high costs.   

Transactions:
In northern ports, a small amount of South African manganese ore was traded. In southern ports, small quantities of manganese ore from Australia were sold.

Manganese Alloy Market:
Silicomanganese alloy remains in short supply. Alloy producers will cut or halt production after power tariffs are hiked with the arrival of the dry season, which will further tighten supply. Producers are anticipating a rise in alloy prices, but SMM believes a sharp increase in prices is impossible given the lackluster steel market.

Steel Market:
China’s Ministry of Industry & Information Technology (MIIT) released the State Council’s Guidelines on Addressing Overcapacity on October 15th. The Guidelines targets steel, cement, aluminum, sheet glass and ship-building sectors, all of which are suffering from chronic capacity surplus. In response, Shandong, Hebei, Liaoning, Jiangsu, Jiangxi and Shanxi provinces will push ahead with steel industry restructuring, with over 80 million mt of steel capacity to be eliminated. 

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

Origin

Grade

Oct. 16 Price

(RMB/mtu)

Oct. 15 Price

(RMB/mtu)

Price Change

Region

Notes

 

Australia (lump)

Mn47-48%

41-42

41-42

Tianjin port

 

 

Mn47-48%

40.5-41

41-41.5

↓0.5

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.