SHANGHAI, Nov. 24 (SMM) –
Manganese ore downstream demand at China’s major ports remained weak in the week ending November 21. Supply of South African manganese ore was tight as downstream producers bought as needed, allowing traders to hold offers firm.
In Tianjin port, mainstream traded prices were RMB 34.5/mtu for Australian manganese ore (Mn46%, lump), RMB 28.3/mtu for South African semi carbonate manganese ore (Mn38%, lump), and RMB 30/mtu for Brazilian manganese ore (Mn45%Fe5%, lump).
In southern ports, Australian manganese ore (Mn46%, lump) was largely quoted at RMB 33.5/mtu. Mainstream traded prices were RMB 29.8-30/mtu for South African semi carbonate manganese ore (Mn38%, lump), and RMB 29.3-29.5/mtu for Brazilian manganese ore (Mn45%Fe5%, lump).
Inventories at China’s major ports totaled 3.08 million mt on November 21, down on a weekly basis. Stocks were 130,000 mt at Lianyungang port, 1.9 million mt at Tianjin port, 950,000 mt at Qinzhou port, 40,000 mt at Beihai port, and 46,000 mt at Fangchenggang port.
Manganese ore prices at China’s ports remain under downward pressure from high port stocks and falling operating rates at downstream producers.