Turnaround Expected for Manganese Ore Prices at Chinese Ports Next Week

Aug 21, 2015 16:11

Source:SMM

Prices for imported manganese ore at Chinese ports might see a turnaround next week, SMM says.

SHANGHAI, Aug. 21 (SMM) – Prices for imported manganese ore at Chinese ports might see a turnaround next week, SMM says.

Yuan’s depreciation has added to import costs for Chinese buyers. This, combined with flat offers by major overseas suppliers for September shipment, might allow traders at ports to ask for higher prices.

That said, any potential upside room will be limited, given sluggish downstream market.

Manganese ore stocks at major Chinese ports were 2.81 million tonnes as of August 21, down about 10,000 tonnes from a week ago.

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Turnaround Expected for Manganese Ore Prices at Chinese Ports Next Week

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