SHANGHAI, Apr. 7 (SMM) –
Review:
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.
Prices:
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:
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.
Forecast:
Traders will hold off from selling against continuous price declines, which should help stabilize manganese ore prices at ports this week.