SMM Manganese Ore Weekly Price Review and Forecast (Aug. 11-15, 2014)

SHANGHAI, Aug. 11 (SMM) –

 

Traders at the Port of Tianjin cut offers of Brazilian manganese ore by RMB 0.5/mtu against high port inventories in the week ending August 8. It is said among some traders at ports that BHP, CML and Comilog kept manganese ore offers for shipments to China in September flat with August, dashing Chinese traders’ hopes for price cuts. Traders showed little interest in importing now that end user consumption is sluggish in the offseason.   

 

In Tianjin port, mainstream traded prices were RMB 33.5-34/mtu for Australian manganese ore (Mn46%, lump), RMB 29.5/mtu for South African semi carbonate manganese ore (Mn38%, lump), and RMB 30-30.5/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 30.2-30.5/mtu for Brazilian manganese ore (Mn45%Fe5%, lump). 

 

Inventories at ports totaled about 3 million mt last Friday, down slightly on a weekly basis. Stocks were 150,000 mt at Lianyungang port, 1.83 million mt at Tianjin port, 890,000 mt at Qinzhou port, over 1,000 mt at Zhanjiang port, 70,000 mt at Beihai port, and 54,200 mt at Fangchenggang port. 

 

High costs and weak demand will keep manganese ore prices stable at current levels this coming week.