SHANGHAI, Aug. 4 (SMM) –
Manganese ore consumption at China’s major ports improved in July compared with June, allowing port inventories to drop slightly. Prices for South African semi carbonate manganese ore gained RMB 0.3-0.5/mtu in July, while those for Gabonese ore inched up RMB 0.2-0.5/mtu. Demand for non-mainstream manganese ore remained slack, though.
In Tianjin port, mainstream traded prices were RMB 33.5-34/mtu for Australian manganese ore (Mn46%, lump) in the week ending August 31, RMB 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 33.5-34/mtu. Mainstream traded prices were RMB 29.3-29.5/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 million mt last Friday, down significantly from a week ago. Stocks were 150,000 mt at Lianyungang port, 1.8 million mt at Tianjin port, 900,000 mt at Qinzhou port, 1,500 mt at Zhanjiang port, 70,000 mt at Beihai port, and 60,000 mt at Fangchenggang port.
High port inventories and soft demand are expected to prevent manganese ore prices at ports from rising this week.