SHANGHAI, Dec. 2 (SMM) – 

Review:
Manganese ore prices at ports remained little changed last week, with the exception of a slight decline in Morocco mixed manganese ore. UMK raised its offers of manganese ore (Mn37.5%) to Chinese buyers for shipments in January next year by USD 0.1/mtu from December, but kept offers for manganese ore (Mn35.5%) unchanged.

Prices:
In the Port of Tianjin, mainstream traded prices were RMB 40.5-41.5/mtu for Australian manganese ore (Mn48%, lump), RMB 35-35.5/mtu for South African mixed carbonate manganese ore (Mn38%, lump), RMB 38-38.5/mtu for South African high-iron manganese ore (Mn35-36%, Fe18%), and RMB 37/mtu for Brazilian manganese ore (Mn45%Fe5%). In southern ports, Australian manganese ore (Mn48%, lump) was largely quoted at 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).

Inventories:
Manganese ore inventories at ports totaled 2.62 million mt last week, up slightly from a week ago. Inventories were 1.42 million mt in the Port of Tianjin, 800,000 mt in the Port of Qinzhou, 130,000 mt in the Port of Lianyungang, 140,000 mt in the Port of Zhanjiang, and 60,000 mt in the Port of Fangchenggang. Most of the goods that arrived last week were from South Africa and Malaysia.

Forecast:
SMM expects manganese ore prices at ports to hold virtually unchanged this coming week.