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SMM Manganese Ore Weekly Price Review and Forecast (Nov. 4-8, 2013)
Nov 4,2013 14:25CST
price review forecast
Source:SMM
Trading at ports remained sluggish last week.

SHANGHAI, Nov. 4 (SMM) – 

Review:
Trading at ports remained sluggish last week. Higher offers overseas for November and December shipment enabled some manganese ore traders in China to raise offers as well. However, higher quotes undermined buying interest. In China’s southern ports, holders of Australian manganese ore lump were forced to cut offers by RMB 0.75/mtu due to anemic demand. Quotations of Gabon manganese ore also fell some. In China’s northern ports, offers remained virtually unchanged.   

Prices:
In the Port of Tianjin, mainstream traded prices for Australian manganese ore (Mn48%, lump) were RMB 40.5-41/mtu; RMB 34.5-35/mtu for South African mixed carbonate manganese ore (Mn38%, lump), RMB 38.5-39/mtu for South African high-iron manganese ore (Mn35-36%, Fe18%), and RMB 37/mtu for Brazilian manganese ore (Mn45%Fe5%) . In southern ports, the mainstream quotations for Australian manganese ore (Mn48%, lump) were RMB 40.5-41/mtu. Mainstream traded prices were RMB 38.5-39/mtu for South African high-iron manganese ore (Mn35-36%, Fe20%); RMB 34-34.5/mtu for South African mixed carbonate manganese ore (Mn38%, lump), RMB 39.5/mtu for Australian high-silicon manganese ore (Mn36%, Si20%), and RMB 37/mtu for Brazilian manganese ore (Mn45%Fe5%, lump).

Inventories:
Manganese ore inventories at ports dropped to 2.55 million mt last week. Inventories were 1.53 million mt in the Port of Tianjin, 700,000 mt in the Port of Qinzhou, 150,000 mt in the Port of Lianyungang, 180,000 mt in the Port of Zhanjiang, and 40,000 mt in the Port of Fangchenggang. No shipments arrived in China last week. Inventories of manganese ore from Australia, South Africa and Brazil fell around 40,000 mt on a weekly basis.

Forecast:
SMM expects manganese ore prices to remain weak this coming week due to lackluster demand.
 

China manganese ore

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