SHANGHAI, Mar. 24 (SMM) –
Prices of mainstream manganese ore at Chinese ports have lost RMB 2.0-3.0/mtu since early this year. Port inventories have hit as high as more than 3 million mt. Mounting inventories and waning demand weighted manganese ore prices down.
In Tianjin port, mainstream traded prices were RMB 37-37.5/mtu for Australian manganese ore (Mn46%, lump), RMB 32.4-32.6/mtu for South African semi carbonate manganese ore (Mn38%, lump), and RMB 35/mtu for Brazilian manganese ore (Mn45%Fe5%, lump).
In southern ports, Australian manganese ore (Mn46%, lump) was largely quoted at RMB 37-37.5/mtu. Mainstream traded prices were RMB 32.5/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/mtu for Brazilian manganese ore (Mn45%Fe5%, lump).
Manganese ore inventories at ports totaled 3.1 million mt last Friday, up 100,000 mt on a weekly basis. Stocks were 150,000 mt at Lianyungang port, where 5,000 mt of South African high-Fe manganese ore just arrived. Inventories grew slightly to 1.64 million mt at Tianjin port. Qinzhou port saw inventories increase 50,000 mt to 1.2 million mt. Inventories were flat from a week ago at 3,000 mt at Zhanjiang port. Stocks totaled 98,000 mt at Beihai port, where 1,000 mt of South African manganese ore (lump) was traded. Stocks at Fangchenggang port were reported at 57,000 mt.
SMM expects manganese ore prices at ports to hold steady before overseas suppliers announce offers for April delivery.