SMM Manganese Ore Weekly Price Review and Forecast (Sept. 29-30, 2014)

SHANGHAI, Sept. 29 (SMM) –

 

Traders at China’s northern ports raised offers of South African high-Fe manganese ore by RMB 0.5/mtu in the week ending September 26 due to limited stocks on hand. Supply of Australian ore, South African semis carbonate ore and Malaysian ore at China’s southern ports remained tight, allowing traders to hold offers stable. Prices for Brazilian and Gabonese ore dropped RMB 0.2-0.5/mtu due to selloff. 

In Tianjin port, mainstream traded prices were RMB 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 34/mtu. Mainstream traded prices were RMB 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 China’s major ports totaled 2.95 million mt last Friday, down from a week ago. Stocks were 1.85 million mt at Tianjin port, 150,000 mt at Lianyungang port, 850,000 mt at Qinzhou port, 1,500 mt at Zhanjiang port, 40,000 mt at Beihai port, and 50,000 mt at Fangchenggang port. 

 

Manganese ore prices at ports will remain weak before the week-long holiday.