SHANGHAI, Oct. 27 (SMM) –
Prices for Brazilian and Gabonese manganese ore at China’s southern ports dropped by RMB 0.3-0.5/mtu in the week ending October 24. The price decline was largely the result of lackluster downstream demand and tight cash biting traders.
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 29.5-30/mtu for Brazilian manganese ore (Mn45%Fe5%, lump).
Inventories at China’s major ports totaled 3.15 million mt on October 24, up more than 100,000 mt from a week ago. Stocks are approaching 2 million mt at Tianjin port, 200,000 mt at Lianyungang port, nearly 1 million mt at Qinzhou port, over 1,000 mt at Zhanjiang port, about 40,000 mt at Beihai port, and almost 60,000 mt at Fangchenggang port.
Manganese ore prices at China’s ports are unlikely to rise this coming week since downstream production is expected to fall.