SHANGHAI, Apr. 21 (SMM) –
Little change was reported in manganese ore prices at ports last week. Inquiries from manganese alloy producers increased, restoring some confidence on manganese ore traders. A few traders held back goods in hopes of higher prices on the horizon. However, some are worried that BHP’s price cuts for May shipments may drag manganese ore prices at ports down.
In Tianjin port, mainstream traded prices were RMB 35-35.5/mtu for Australian manganese ore (Mn46%, lump), RMB 30-30.5/mtu for South African semi carbonate manganese ore (Mn38%, lump), and RMB 33.5-34/mtu for Brazilian manganese ore (Mn45%Fe5%, lump).
In southern ports, Australian manganese ore (Mn46%, lump) was largely quoted at RMB 35-35.5/mtu. Mainstream traded prices were RMB 30.5/mtu for South African semi carbonate manganese ore (Mn38%, lump) and RMB 33.5-34/mtu for Brazilian manganese ore (Mn45%Fe5%, lump).
Inventories at ports totaled 3.12 million mt last Friday, little changed on a weekly basis. Stocks were 1.6 million mt at Tianjin port, 150,000 mt at Lianyungang port, 1.18 million mt at Qinzhou port, 30,000 mt at Zhanjiang port, 90,000 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 price cuts by overseas supplier.