SMM Manganese Ore Weekly Price Review and Forecast (Feb. 2-6, 2015)

SHANGHAI, Feb. 2 (SMM) –

 

Manganese ore prices across China’s major ports fell slightly in the week ending January 30. Steel mills cut SiMn alloy procurement prices for delivery in February, which had a knock-on effect on manganese ore prices at ports. Besides, slack demand was also blamed for lower manganese ore prices. 

 

In Tianjin port, mainstream traded prices were RMB 33.5/mtu for Australian manganese ore (Mn46%, lump), RMB 28.8-29/mtu for South African semi carbonate manganese ore (Mn38%, lump), and RMB 29/mtu for Brazilian manganese ore (Mn45%Fe5%, lump). 

 

In southern ports, Australian manganese ore (Mn46%, lump) was largely quoted at RMB 32/mtu. Mainstream traded prices were RMB 28.5-28.8/mtu for South African semi carbonate manganese ore (Mn38%, lump), and RMB 27.5-28/mtu for Brazilian manganese ore (Mn45%Fe5%, lump). 

Inventories: 

 

Inventories at ports totaled 2.94 million mt on January 30. Stocks were 1 mt at Lianyungang port (excluding bonded stocks), 2.04 million mt at Tianjin port, 800,000 mt at Qinzhou port, 30,000 mt at Beihai port, and 50,000 mt at Fangchenggang port. 

Manganese ore prices at ports are expected to inch down this week, tracking SiMn alloy prices.