SHANGHAI, Oct. 20 (SMM) –
BHP, CML and UMK kept manganese ore offers for shipments to China in November flat with October. Mounting port inventories prevented manganese ore prices at China’s ports from going up. Supply of South African semis carbonate manganese ore was tight at China’s southern ports, but was ample at northern ports.
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 3.03 million mt on October 17, up from a week ago. Stocks were 1.88 million mt at Tianjin port, 150,000 mt at Lianyungang port, 900,000 mt at Qinzhou port, 40,000 mt at Beihai port, and less than 60,000 mt at Fangchenggang port.
Expected production cuts at downstream producers will dampen the outlook for manganese ore prices at ports this coming week.