SMM Manganese Ore Weekly Price Review and Forecast (Dec. 23-27, 2013)

SHANGHAI, Dec. 23 (SMM) – 

Review:
Prices of Australian manganese ore (lump) at Chinese ports inched down RMB 0.5/mtu last week. Some traders were planning to sell off inventories on hand against persistently tepid demand. Surprisingly, South African high-Fe manganese ore at Lianyungang port gained favor. South African manganese ore (Mn30-32%Fe20%) was largely traded at RMB 39/mtu at Lianyungang, RMB 1.0-1.5/mtu higher than in Tianjin port. 

Prices:
In Tianjin port, mainstream traded prices were RMB 40-40.5/mtu for Australian manganese ore (Mn46%, lump), RMB 34-34.5/mtu for South African semi carbonate manganese ore (Mn38%, lump), and RMB 37/mtu for Brazilian manganese ore (Mn45%Fe5%, lump).

In southern ports, Australian manganese ore (Mn46%, lump) was largely quoted at RMB 39.5-40/mtu. Mainstream traded prices were RMB 34-34.5/mtu for South African semi 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:
Most of the manganese ore that arrived in China last week came from South Africa and Australia. Inventories at ports grew to 2.62 million mt. Stocks were 1.47 million mt at Tianjin port, 130,000 mt at Lianyungang port, 60,000 mt at Zhanjiang port, 65,000 mt at Beihai port, and 35,000 mt at Fangchenggang port. Inventories at Qinzhou port increased 100,000 mt to 870,000 mt. 

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