SHANGHAI, Nov. 11 (SMM) –
Prices for Australian and South African manganese ore rose last week, but those for Gabon and Brazilian manganese ore remained flat. Gabon manganese ore gained more favor than Brazilian ore. As regards non-mainstream manganese ore, supply in Malaysia, Zambia and Turkey fell somewhat since mining activities in these countries have decreased with the arrival of rainy season or winter. This allowed suppliers in those countries to raise offers. In this context, holders of non-mainstream manganese ore in China insisted on high offers, undermining buying interest.
In the Port of Tianjin, mainstream traded prices for Australian manganese ore (Mn48%, lump) were RMB 40.5-41.5/mtu; RMB 35-35.5/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 35/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).
Manganese ore inventories at ports were little changed at 2.53 million mt last week. Inventories were 1.46 million mt in the Port of Tianjin, 740,000 mt in the Port of Qinzhou, 150,000 mt in the Port of Lianyungang, 140,000 mt in the Port of Zhanjiang, and 50,000 mt in the Port of Fangchenggang. Approximately 30,000 mt arrived in China last week. Manganese ore from Australia, South Africa and Gabon were more popular.
SMM believes there is a good chance that manganese ore prices will remain depressed this coming week given that demand will not pick up notably.