SHANGHAI, Jun. 29 (SMM) –
Manganese ore prices at Chinese ports held largely stable in the week ending June 26. Sales at ports were also stable. Supply of Australian ore was modest at China’s northern ports, while supply of Gabonese and Brazilian ore was tight. This is mainly because overseas mining companies cut shipment to China. Overall manganese ore inventories at ports remain high, though.
In Tianjin port, Australian manganese ore (Mn46%, lump) was largely offered at RMB 25-25.5/mtu on June 26, 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). In China’s 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 2.81 million mt as of June 26, down from a week ago. Stocks were 35,000 mt at Lianyungang port (excluding bonded stocks), 1.93 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 25,000 mt at Fangchenggang port.
Manganese ore prices at Chinese ports are expected to remain stable this week. Overseas suppliers kept offers for shipment to China in July flat with June, which will offer cost support for prices at domestic ports. Power tariffs in south China might be cut due to the arrival of the rainy season in July, which might encourage SiMn alloy producers to resume production.