SHANGHAI, Jun. 8 (SMM) –
At China’s northern ports, downstream demand showed no strong recovery and port inventories remained high, preventing prices from rising. At China’s southern ports, recent arrivals of imported ore are limited. Downstream demand picked up slightly, allowing traders to hold offers firm.
In Tianjin port, Australian manganese ore (Mn46%, lump) was largely offered at RMB 25-25.5/mtu on June 5, RMB 21.5-22/mtu for South African semi carbonate manganese ore (Mn38%, lump), and RMB 21-21.5/mtu for Brazilian manganese ore (Mn45%Fe5%, lump).
In southern ports, Australian manganese ore (Mn46%, lump) was largely quoted at RMB 25-25.5/mtu, RMB 21.5-22/mtu for South African semi carbonate manganese ore (Mn38%, lump), and RMB 21.5-22/mtu for Brazilian manganese ore (Mn45%Fe5%, lump).
Inventories at ports totaled 2.77 million mt as of June 5, down from a week ago. Stocks were 1.92 million mt at Tianjin port, 35,000 mt at Lianyungang port (excluding bonded stocks), 747,000 mt at Qinzhou port, 15,000 mt of Malaysian manganese ore at Zhanjiang port, 28,000 mt at Beihai port, and 27,000 mt at Fangchenggang port.
Most steel mills kept SiMn alloy bid prices for June delivery little changed from May, so operating rates at SiMn alloy producers might hold largely stable. Port inventories remained high. In this context, manganese ore prices at ports might hold steady this week.