SHANGHAI, Apr. 28 (SMM) –
Manganese ore prices at ports lost RMB 0.5-1/mtu in the week ending April 25. On the one hand, prices cuts by BHP and CML will help ease losses incurred on Chinese importers. On the other hand, the inflow of cheap goods into China will send prices at ports down. Little change was reported in operating rates at silicomanganese alloy producers, so manganese ore demand remained weak.
In Tianjin port, mainstream traded prices were RMB 34.5-35/mtu for Australian manganese ore (Mn46%, lump), RMB 29.5-30/mtu for South African semi carbonate manganese ore (Mn38%, lump), and RMB 32.8-33/mtu for Brazilian manganese ore (Mn45%Fe5%, lump).
In southern ports, Australian manganese ore (Mn46%, lump) was largely quoted at RMB 34.5-35/mtu. Mainstream traded prices were RMB 29.5-30/mtu for South African semi carbonate manganese ore (Mn38%, lump), and RMB 34.5-35/mtu for Brazilian manganese ore (Mn45%Fe5%, lump).
Inventories at ports totaled 3.1 million mt last Friday, down some 20,000 from a week ago. Stocks were 1.62 million mt at Tianjin port, 1.2 million mt at Qinzhou port, about 150,000 mt at Lianyungang port, less than 30,000 mt at Zhanjiang port, about 90,000 mt at Beihai port, and 50,000 mt at Fangchenggang port.
SMM expects manganese ore prices at ports to remain weak this week.