China Manganese Ore Market Movement (2014-3-10)

SHANGHAI, Mar. 10 (SMM) – 

Prices:
Prices for South African manganese ore inched down RMB 0.5/mtu on Monday, and those for Australian manganese ore lost RMB 1.0/mtu. Prices for Gabonese manganese ore also shed RMB 1.0/mtu.

Inventories:
Manganese ore inventories at ports totaled 2.93 million mt last Friday, up 68,000 mt on a weekly basis. Specifically, inventories were 150,000 mt at Lianyungang port, 1.61 million mt at Tianjin port, 1.06 million mt at Qinzhou port, 3,000 mt at Zhanjiang port, 56,800 mt at Beihai port, and 50,000 mt at Fangchenggang port.

Manganese Alloy Market:
Many major steel producers have cut procurement prices of silicomanganese alloy for March delivery by more than RMB 200/mt. Prices for silicomanganese alloy in spot markets have been falling recently due to anemic demand, forcing alloy producers to cut production.