Weekly Review of imported Manganese ores (5.20 to 5.24): high inventory is a drag on prices-Shanghai Metals Market

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Weekly Review of imported Manganese ores (5.20 to 5.24): high inventory is a drag on prices

Translation 04:42:38PM May 24, 2019 Source:Shanghai Nonferrous Metals Network

This week, Tianjin Port was affected by the high inventory, various mines have been reduced to varying degrees, Qinzhou Port inventory is relatively stable, manganese ore prices remain stable compared with Tianjin Port.

Last week, the manganese mine inventory in Tianjin Port increased by about 2.63%, of which the manganese mine inventory in Australia, South Africa and Malaysia increased by 7.69%, 1.11% and 50% respectively compared with the previous month. The inventory pressure at the beginning of the week is directly reflected in the port manganese mine price. Each mine has been reduced by an average of 0.5 yuan per tonnage. Although manganese traders have a different mentality, either under pressure to ship goods, or try to push up the price, but with the decline in the overall quotation in the market, the voice of holding up the price is rapidly dimming. The transaction of manganese ore in Australia is good this week, mainly because the falling price of high-grade ore will make the downstream alloy adjust the proportion of alloy charge and improve the alloy quality and compress the production cost to a certain extent. Manganese ore traders and alloy manufacturers have said that this week Australia whether spot or futures, whether supplementary materials or hoarding inventory, trading volume is obvious. In the context of better trading, the price of 46% of the Australian dollar improved slightly on Friday. Although the overall quotation range remained at 52-53 yuan / tonnage, the low quotation of 52 yuan / tonnage was significantly reduced, and the most mainstream transaction was 52.5-53 yuan / tonnage.

In the alloy market in the downstream market, due to the influence of the upper round steel price and spot shortage, the alloy price has risen this week, but the manganese ore price has deviated from the downstream market, in addition to the pressure brought about by the inventory pressure. The increase in the price of Si-mn alloy is still lack of the support of the national trading volume, and the steel move has not been carried out next week. The mainstream price of the alloy can not be determined to have achieved a truly stable price increase, and the manganese ore-driven rise is even more lack of support.

Weekly Review of imported Manganese ores (5.20 to 5.24): high inventory is a drag on prices

Translation 04:42:38PM May 24, 2019 Source:Shanghai Nonferrous Metals Network

This week, Tianjin Port was affected by the high inventory, various mines have been reduced to varying degrees, Qinzhou Port inventory is relatively stable, manganese ore prices remain stable compared with Tianjin Port.

Last week, the manganese mine inventory in Tianjin Port increased by about 2.63%, of which the manganese mine inventory in Australia, South Africa and Malaysia increased by 7.69%, 1.11% and 50% respectively compared with the previous month. The inventory pressure at the beginning of the week is directly reflected in the port manganese mine price. Each mine has been reduced by an average of 0.5 yuan per tonnage. Although manganese traders have a different mentality, either under pressure to ship goods, or try to push up the price, but with the decline in the overall quotation in the market, the voice of holding up the price is rapidly dimming. The transaction of manganese ore in Australia is good this week, mainly because the falling price of high-grade ore will make the downstream alloy adjust the proportion of alloy charge and improve the alloy quality and compress the production cost to a certain extent. Manganese ore traders and alloy manufacturers have said that this week Australia whether spot or futures, whether supplementary materials or hoarding inventory, trading volume is obvious. In the context of better trading, the price of 46% of the Australian dollar improved slightly on Friday. Although the overall quotation range remained at 52-53 yuan / tonnage, the low quotation of 52 yuan / tonnage was significantly reduced, and the most mainstream transaction was 52.5-53 yuan / tonnage.

In the alloy market in the downstream market, due to the influence of the upper round steel price and spot shortage, the alloy price has risen this week, but the manganese ore price has deviated from the downstream market, in addition to the pressure brought about by the inventory pressure. The increase in the price of Si-mn alloy is still lack of the support of the national trading volume, and the steel move has not been carried out next week. The mainstream price of the alloy can not be determined to have achieved a truly stable price increase, and the manganese ore-driven rise is even more lack of support.