SMM Manganese Ore Weekly Price Review and Forecast (Jun. 9-13, 2014)

SHANGHAI, Jun.9 (SMM) –

Review:
Prices for Gabonese, Brazilian and Malaysian manganese ore at China’s major ports edged lower in the week ending June 8. Although silicomanganese alloy prices inched up, most silicomanganese alloy producers remained on the sidelines, with no intention of resuming operations. As a result, manganese ore demand remained weak.

Prices:
In Tianjin port, mainstream traded prices were RMB 33.5-33.8/mtu for Australian manganese ore (Mn46%, lump), RMB 29-29.5/mtu for South African semi carbonate manganese ore (Mn38%, lump), and RMB 30.5-30.8/mtu for Brazilian manganese ore (Mn45%Fe5%, lump).      

In southern ports, Australian manganese ore (Mn46%, lump) was largely quoted at RMB 33.3-33.5/mtu. Mainstream traded prices were RMB 28.8-29/mtu for South African semi carbonate manganese ore (Mn38%, lump), and RMB 30.8-31/mtu for Brazilian manganese ore (Mn45%Fe5%, lump).

Inventories:
Inventories at ports totaled 3.17 million mt last Friday, down slightly from a week ago. Stocks were 150,000 mt at Lianyungang port, 1.73 million mt at Tianjin port, 1.18 million mt at Qinzhou port, 6,500 mt at Zhanjiang port, 84,000 mt at Beihai port, and 23,700 mt at Fangchenggang port.

Forecast:
No rebound in manganese ore prices is at sight at ports this coming week since downstream demand should remain tepid.