How will BHP Price Cut Affect Manganese Ore Prices at Chinese Ports-Shanghai Metals Market

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How will BHP Price Cut Affect Manganese Ore Prices at Chinese Ports

Industry News 01:44:11PM Sep 15, 2015 Source:SMM

SHANGHAI, Sept. 15 (SMM) –South32, a spinoff from BHP, cut manganese ore offers to Chinese buyers for shipment in October. How will the cut affect spot prices at Chinese ports?

The cut could not offset higher import costs from yuan’s depreciation, which will give traders at Chinese ports no reason to cut offers, some market players told SMM.  

Others, however, are worried that downstream buyers might use the price cut as bargaining chip to push for lower ore prices. 

South32 offered Australian manganese ore (Mn 45.5%, lump) at $3.1/mtu to Chinese buyers for October shipment, down $0.1/mtu from September, SMM learned from traders at ports. 

The table below shows prices of imported manganese ore at China’s major ports:

Origin

Grade

Sept. 15 Price

(yuan/mtu)

Sept. 14 Price

(yuan/mtu)

Price Change

Port

Notes


Australia

lump (Mn47-48%)

25

25

Tianjin



lump (Mn47-48%)

24-24.5

24-24.5

Qinzhou, Zhanjiang


South Africa

semi carbonate manganese ore lump (Mn38%   Fe5%)

21-21.5

21-21.5

Tianjin, Lianyungang



semi carbonate manganese ore lump (Mn38%   Fe5%)

21.5-21.8

21.5-21.8

Qinzhou, Fangchenggang


Brazil

lump (Mn44-45%)

20.8-21.3

20.8-21.3

Qinzhou, Zhanjiang



lump (Mn44-45%)

21-21.5

21-21.5

Tianjin, Lianyungang


Malaysia

lump (Mn33% Fe10%)

19-19.5

19-19.5

Tianjin



lump (Mn33% Fe10%)

19-19.5

19-19.5

Zhanjiang, Qinzhou


Notes: prices in the table refer to mainstream traded prices.



For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.


How will BHP Price Cut Affect Manganese Ore Prices at Chinese Ports

Industry News 01:44:11PM Sep 15, 2015 Source:SMM

SHANGHAI, Sept. 15 (SMM) –South32, a spinoff from BHP, cut manganese ore offers to Chinese buyers for shipment in October. How will the cut affect spot prices at Chinese ports?

The cut could not offset higher import costs from yuan’s depreciation, which will give traders at Chinese ports no reason to cut offers, some market players told SMM.  

Others, however, are worried that downstream buyers might use the price cut as bargaining chip to push for lower ore prices. 

South32 offered Australian manganese ore (Mn 45.5%, lump) at $3.1/mtu to Chinese buyers for October shipment, down $0.1/mtu from September, SMM learned from traders at ports. 

The table below shows prices of imported manganese ore at China’s major ports:

Origin

Grade

Sept. 15 Price

(yuan/mtu)

Sept. 14 Price

(yuan/mtu)

Price Change

Port

Notes


Australia

lump (Mn47-48%)

25

25

Tianjin



lump (Mn47-48%)

24-24.5

24-24.5

Qinzhou, Zhanjiang


South Africa

semi carbonate manganese ore lump (Mn38%   Fe5%)

21-21.5

21-21.5

Tianjin, Lianyungang



semi carbonate manganese ore lump (Mn38%   Fe5%)

21.5-21.8

21.5-21.8

Qinzhou, Fangchenggang


Brazil

lump (Mn44-45%)

20.8-21.3

20.8-21.3

Qinzhou, Zhanjiang



lump (Mn44-45%)

21-21.5

21-21.5

Tianjin, Lianyungang


Malaysia

lump (Mn33% Fe10%)

19-19.5

19-19.5

Tianjin



lump (Mn33% Fe10%)

19-19.5

19-19.5

Zhanjiang, Qinzhou


Notes: prices in the table refer to mainstream traded prices.



For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.