SHANGHAI, Feb. 20 (SMM) –

Shipping Market
The BDI rose on Wednesday due to increasing activities in the Capesize shipping market. The BDI rose 14 or 1.22%, to 1,160. The BCI rose 23 or 1.38% to 1,690. “Activities in the Baltic Dry Market are much more compared to the past few weeks due to strong buying interest for Australian iron ore,” OmarNokta, Analyst of GHSSecurities, said in a research report. The BPI dropped 16 or 1.23% to 1,282.

Manganese Ore Market
Manganese ore market leveled out today. According to a SMM survey, most manganese ore traders are depleting inventories, lacking interest in futures operation. Prices of manganese ore (Australia, lump) and South African high-Fe manganese ore dropped RMB 0.2-0.3/mt; Malaysian ore prices fell RMB 0.5/mtu. Other ore categories are unavailable in the market.

Manganese Alloy Market
Silicomanganese alloy market was stable today, with SiMn 60/14 prices in some regions lowered by RMB 50-100/mt (excluding tax). The SMM survey shows producers are expecting price increases as steel prices rebounded. But some market players believe steel plants will continue to weigh down silicomanganese alloy prices, although profit for silicomanganese alloy producers has been extremely low.

Port Market
Transactions were barely made at ports due to the sluggish market.

Steel Market
some market players believe quotes for steel continue to fall due to low sales now that many end-users had yet to restart operation last week. With growing inventories, some regions that had held prices firm before the Chinese New Year holiday lowered prices significantly after the holiday, despite rising billet and section prices in Tangshan. Domestic steel market did not improve, due mainly to limited trading volume. Domestic steel market will return to normal this week as a growing number of plants restart production, with sales at steel traders increasing, which will push up prices. But domestic steel prices will remain weak during February–March due to soft demand.