SHANGHAI, May 18 (SMM) – Prices of imported manganese ore fell and then stabilised this week while sellers saw more shipments as spot prices fell to psychologically-acceptable levels among buyers, SMM learned.
As of Friday May 18, Australian ore with 46% Mn at Tianjin port traded at 54.5 yuan/mtu, compared to 56 yuan/mtu a week ago. South African semi-carbonate ore with 36.5% Mn traded at 47 yuan/mtu, compared to 48 yuan/mt a week ago, while Gabonese ore with 44.5% Mn traded at 51.5 yuan/mtu, compared to 54 yuan/mtu a week ago.
As high costs kept domestic importers on sidelines, South 32 lowered its offers twice this week, with Australian ore with 46% Mn at $6.7/dmtu cif. SMM learned that buyers were willing to make transactions at this price level. Comilog also lowered its offers for Gabonese ore with 44.5% Mn to $6.7/dmtu cif on Friday May 18.
We expect manganese port inventories to slow its upward trend, as transactions improve.
Prices of manganese ore are also likely to gain some psychological support from the surge in prices of silicomanganese futures this week, as well as from strikes in South Africa that affected manganese ore transportation.
SMM expects prices of imported manganese ore to stablise next week as downstream alloy plants step up procurement on demand.
For editorial queries, please contact Daisy Tseng at firstname.lastname@example.org
For more information on how to access our research reports, please email email@example.com