SHANGHAI, Oct. 13 (SMM) –
Traders raised offers of South African high-Fe manganese ore and Gabonese manganese ore after the Chinese National Day holiday, but buyers refused to buy at higher prices, leaving traded prices unchanged. Stocks of South African semis carbonate manganese ore exceeded 600,000 mt at the Port of Tianjin, but stocks of such ore were limited at the Port of Qinzhou, leaving the price spread between both ports at RMB 0.8/mtu.
In Tianjin port, mainstream traded prices were RMB 34/mtu for Australian manganese ore (Mn46%, lump), RMB 29-29.2/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 29.8-30/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 nearly 3 million mt on October 10, up from pre-holiday levels. Stocks were 880,000 mt at Qinzhou port, 150,000 mt at Lianyungang port, more than 1,000 mt at Zhanjiang port, 1.86 million mt at Tianjin port, over 40,000 mt at Beihai port, and 50,000 mt at Fangchenggang port.
Manganese ore prices at ports are expected to remain weak this coming week.