SHANGHAI, Jun. 18 (SMM) –
Manganese Ore Market:
Manganese ore prices at Chinese ports remained stable on June 18. Some traders reported downstream alloy producers have purchased cautiously recently, with overall demand largely unchanged. SiMn selling prices lacked ability to rise, leaving producers in losses. In this scenario, they depleted stocks to ease cash tightness against stable manganese ore prices.
SMM survey shows port inventories are ample due to arriving shipments. South China will receive a batch of Gabonese and Brazilian low-Fe ore. Some market players expect ore prices to move stably due to cost support. In addition, the strike in South Africa will raise manganese ore exploration cost. Moreover, traders holding prices firm will lend support to prices due to ore monopoly. Besides, UMK held its CIF quotes for Chinese buyers stable at USD 2.7/mtu for July. SiMn prices were also steady recently.
Manganese Alloy Market:
The SiMn market remained steady today. Sales for SiMn 65/17 were brisk, but selling prices were low on sluggish steel market. Prices for SiMn 60/14 remained low. Prices for non-standard SiMn alloy were poor on soft demand.
EMM Market:
EMM was largely offered at RMB 10,850-10,950/mt on June 18. Downstream inquiries were quiet, with some cargo holders selling at lower prices. EMM prices find no support from rising raw material prices. SMM is pessimistic toward EMM prices as steel plants including Guangxi Jinhai, Beihai Chengde, Huale Alloy and Fujian Wuhang, cut #200 stainless steel output.
