SHANGHAI, Apr. 8 (SMM) –
Prices for selected categories of manganese ore inched down RMB 0.5/mtu last week. Some manganese alloy producers in south China began to test the waters in preparation for operation resumptions now that the rainy season is around the corner, but few deals were completed. Most manganese alloy producers were entrenched in a wait-and-see posture against cloudy market prospects. Many traders scaled back manganese ore imports, so import volumes in April are expected to drop.
In Tianjin port, mainstream traded prices were RMB 36-36.5/mtu for Australian manganese ore (Mn46%, lump), RMB 31-31.5/mtu for South African semi carbonate manganese ore (Mn38%, lump), and RMB 34-34.5/mtu for Brazilian manganese ore (Mn45%Fe5%, lump).
In southern ports, Australian manganese ore (Mn46%, lump) was largely quoted at RMB 36-36.5/mtu. Mainstream traded prices were RMB 31-31.5/mtu for South African semi carbonate manganese ore (Mn38%, lump); and RMB 34-34.5/mtu for Brazilian manganese ore (Mn45%Fe5%, lump).
Inventories at ports totaled 3.23 million mt last Friday, up slightly from a week ago.
Manganese ore traders will refrain from selling at lower prices following continuous declines earlier. Inquiries from manganese alloy producers will continue to increase. As such, SMM expects manganese ore prices at ports to stabilize this week.