China Manganese Ore Market Movement (2014-3-14)

SHANGHAI, Mar. 14 (SMM) – 

Overseas Market:
Overseas suppliers will announce offers of manganese ore for delivery in April soon. Offers overseas may drop given the mounting port inventories and weak demand in China.  
 
Manganese Ore Market:
Inquiries and trading at ports remained thin on Friday. Australian manganese ore (Mn 46%, lump) was largely quoted at RMB 37-37.3/mtu. South African manganese ore (Mn 38%, Fe5%, lump) was primarily offered at RMB 32.5/mtu. Manganese ore (Mn44-45%, lump) from Gabon and Brazil was mainly quoted at RMB 35/mtu.    

Manganese Alloy Market:
65/17 silicomanganese alloy was largely offered between RMB 6,200-6,300/mt (ex-works, by acceptance) in north China, and RMB 6,600-6,700/mt in south China. Prevailing offers of 60/14 silicomanganese alloy was RMB 5,800/mt (tax included) in south China. In south China, mainstream quotations were RMB 5,200/mt for #58 non-standard silicomanganese alloy, RMB 5,100/mt for #55 non-standard silicomanganese alloy, and RMB 4,700/mt (excluding tax) for #50 non-standard silicomanganese alloy. Silicomanganese alloy prices have dropped below production costs for many producers, giving producers little incentive to produce. As a consequence, operating rates have fallen to as low as 15-30% in south China, SMM’s survey showed.