SHANGHAI, Apr. 7 (SMM) –
Prices for some classes of manganese ore edged lower at Chinese ports in the week ending April 3. Prices for Australian ore lost RMB 0.5/mtu due to the arrival of cheaper ore. Some traders withheld goods against losses.
In Tianjin port, mainstream traded prices were RMB 27.5/mtu for Australian manganese ore (Mn46%, lump), RMB 25.5-26/mtu for South African semi carbonate manganese ore (Mn38%, lump), and RMB 25-25.5/mtu for Brazilian manganese ore (Mn45%Fe5%, lump).
In southern ports, Australian manganese ore (Mn46%, lump) was largely quoted at RMB 28.5-28.8/mtu. Mainstream traded prices were RMB 25.8-26/mtu for South African semi carbonate manganese ore (Mn38%, lump), and RMB 25-25.5/mtu for Brazilian manganese ore (Mn45%Fe5%, lump).
Inventories at ports totaled 3.05 million mt as of April 3, down slightly from a week ago. Stocks were 30,000 mt at Lianyungang port (excluding bonded stocks), 2 million mt at Tianjin port, 930,000 mt at Qinzhou port, less than 25,000 mt at Zhanjiang port, 30,000 mt at Beihai port, and 40,000 mt at Fangchenggang port.
Traders will hold off from selling against continuous price declines, which should help stabilize manganese ore prices at ports this week.