SHANGHAI, Mar. 10 (SMM) –
Prices for selected classes of manganese ore at ports lost RMB 0.2-0.5/mtu last week. Overseas suppliers will likely cut manganese ore offers to Chinese buyers for shipments in March, which will offer no cost support to manganese ore prices in China. Prices for non-mainstream manganese ore outperformed those for mainstream ore.
In Tianjin port, mainstream traded prices were RMB 38-38.5/mtu for Australian manganese ore (Mn46%, lump), RMB 33-33.5/mtu for South African semi carbonate manganese ore (Mn38%, lump), and RMB 36/mtu for Brazilian manganese ore (Mn45%Fe5%, lump).
In southern ports, Australian manganese ore (Mn46%, lump) was largely quoted at RMB 38-38.5/mtu. Mainstream traded prices were RMB 33-33.5/mtu for South African semi carbonate manganese ore (Mn38%, lump); RMB 38-38.5/mtu for Australian high-silicon manganese ore (Mn36%, Si20%), and RMB 35.5-36/mtu for Brazilian manganese ore (Mn45%Fe5%, lump).
Inventories at ports totaled 2.93 million mt last Friday, up 68,000 mt on a weekly basis. Stocks were 150,000 mt at Lianyungang port, where consumption was sluggish. Inventories increased 10,000 mt to 1.61 million mt at Tianjin port. Stocks at Qinzhou port also grew 40,000 mt to 1.06 million mt. Inventories were 3,000 mt at Zhanjiang port, 56,800 mt at Beihai port, and 50,000 mt at Fangchenggang port.
SMM expects manganese ore prices at ports to inch down this week due to a lack of cost support from overseas offers.