SHANGHAI, Mar. 3 (SMM) –
Manganese ore prices at ports dropped further last week. Lower prices, however, did not stoke much buying interest. Manganese alloy producers are bearish toward procurement prices offered by steel mills, which will in turn dampen manganese ore prices.
In Tianjin port, mainstream traded prices were RMB 38.5-39/mtu for Australian manganese ore (Mn46%, lump), RMB 33-33.5/mtu for South African semi carbonate manganese ore (Mn38%, lump), and RMB 36.5-37/mtu for Brazilian manganese ore (Mn45%Fe5%, lump).
In southern ports, Australian manganese ore (Mn46%, lump) was largely quoted at RMB 38.5/mtu. Mainstream traded prices were RMB 33-33.5/mtu for South African semi carbonate manganese ore (Mn38%, lump); RMB 38.5-39/mtu for Australian high-silicon manganese ore (Mn36%, Si20%), and RMB 36-36.5/mtu for Brazilian manganese ore (Mn45%Fe5%, lump).
Inventories at ports totaled 2.87 million mt last Friday, up 70,000 mt from a week ago. Stocks were 150,000 mt at Lianyungang port, 1.02 million mt at Qinzhou port, 3,000 mt at Zhanjiang port, 56,800 mt at Beihai port, and 32,000 mt at Fangchenggang port.
SMM expects manganese ore prices at ports to level out this week following two consecutive weeks of decline.