SMM Manganese Ore Weekly Price Review and Forecast (Jun. 15-19, 2015)

SHANGHAI, Jun. 13 (SMM) –

 

Manganese ore prices at Chinese ports held stable in the week ending June 13. Supply of Australian ore and South African semi carbonate manganese ore was tight at the Port of Tianjin. Supply of Australian ore (granule) was limited in China’s southern ports. A batch of Gabonese ore has recently arrived at Chinese ports. Traders held offers stable. But no notable recovery in downstream demand prevented prices from rising.  

 

In Tianjin port, Australian manganese ore (Mn46%, lump) was largely offered at RMB 25-25.5/mtu last Friday, 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 2.83 million mt as of June 13, up from a week ago. Stocks were 35,000 mt at Lianyungang port (excluding bonded stocks), 1.95 million mt at Tianjin port, 780,000 mt at Qinzhou port, 15,000 mt of Malaysian ore at Zhanjiang port, 28,000 mt at Beihai port, and 26,000 mt at Fangchenggang port. 

Manganese ore prices at ports are expected to remain stable next week. Downstream demand has shown no signs of a strong recovery. Traders will refrain from selling at lower prices.