Stable foreign demand little changes manganese exports in Oct

SHANGHAI, Dec 13 (SMM) – China's exports of manganese products, including wrought, unwrought manganese, as well as manganese waste and powder, changed little month on month in October, showed data by China Customs. 

Stable overseas demand supported the exports, despite falling prices of manganese in October, SMM believes.   

We expect to see greater exports in December-January as foreign downstream buyers stockpile ahead of the Christmas holiday and Chinese New Year. 

In October, China exported some 38,556 mt of manganese products, down 2% from September. Among overall exports, unwrought manganese, manganese waste and powder accounted for 35,732 mt; wrought manganese and other manganese products stood at 2,824 mt, showed customs data. 

Separately, South Korean steelmaker Pohang Iron and Steel Company (POSCO) raised its purchasing price of manganese by $205-225/mt from December, to $2,000-2,040/mt cfr for January tender in 2019, SMM learned. 

High costs at domestic producers buoyed purchasing prices. The procurement volume for the January tender stood at 5,130 mt. 

South Korea was the top export destination of China’s wrought manganese, according to October's customs data.