SHANGHAI, Dec. 29 (SMM) –
Traders at China’s major ports became eager to sell in the week ending December 26, as year-end cash crunch is biting in. This, along with falling SiMn alloy prices, dragged prices for Australian and Gabonese manganese ore at the Port of Qinzhou down RMB 0.2-0.3/mtu.
In Tianjin port, mainstream traded prices were RMB 34/mtu for Australian manganese ore (Mn46%, lump), RMB 28/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 32-32.5/mtu. Mainstream traded prices were RMB 29.1-29.2/mtu for South African semi carbonate manganese ore (Mn38%, lump), and RMB 29-29.2/mtu for Brazilian manganese ore (Mn45%Fe5%, lump).
Inventories at China’s major ports totaled 3.05 million mt on December 26, down slightly from a week ago. Stocks were less than 30,000 mt (excluding stocks at bonded warehouse) at Lianyungang port, 2 million mt at Tianjin port, 970,000 mt at Qinzhou port, 27,800 mt at Beihai port, and 25,000 mt at Fangchenggang port.
Trading at port will be thin since the three-day New Year holiday is drawing near.