SHANGHAI, Jun. 23 (SMM) –
Manganese ore prices at China’s ports remained stable in the week ending June 22, except a RMB 0.3-0.5/mtu slide in South African high-Fe ore. Australian and South African ore (lump) as well as Brazilian ore (fines) gained more favor than other ores. Yunnan was the only province in south China that has cut power tariffs. Demand from manganese alloy producers picked up slightly.
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 at ports totaled 3.2 million mt last Friday, up slightly on a weekly basis. Stocks were 150,000 mt at Lianyungang port, 1.77 million mt at Tianjin port, 1.17 million mt at Qinzhou port, 2,000 mt at Zhanjiang port, 84,000 mt at Beihai port, and 25,000 mt at Fangchenggang port.
Manganese ore prices at ports look set to remain largely stable this week since the mild recovery in downstream demand is not enough to fuel a price rally.