[SMM analysis] the volume-price relationship of imported manganese ore in Tianjin Port in May-Shanghai Metals Market

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[SMM analysis] the volume-price relationship of imported manganese ore in Tianjin Port in May

Translation 04:46:03PM May 28, 2019 Source:Shanghai Nonferrous Metals Network
The content below was translated by Tencent automatically for reference.

The price of manganese ore in Tianjin Port continued to fall in May 2019, rising or stabilizing only at the end of the month, that is, before the steel move. The main reasons for the decline in the price of imported manganese ore in that month are as follows: first, the price of the downstream alloy market continues to decline. The profits of manufacturers have been seriously thwarted. In order to maintain the operating profit space, the downstream market has obviously suppressed the price of imported manganese ore. Second, the inventory of imported manganese mines in the north remains high, some minerals are still constantly high, and the bargaining power of manganese ore traders is weakened. Against this background, the average price of 38% semi-carbonic acid in South Africa in Tianjin Port in May was 5.69% lower than the average price in April, the average price of 46% in Australia was 6.21% lower than the average price in April, and the average price of 44% in Gabon in May was 6.87% lower than the average price in April.

By the end of the month, the amount of manganese ore imported into Tianjin Port in May was 1.6302 million tons (including ununloaded volume), the monthly inventory capacity was 1.5581 million tons, and the total inventory capacity of Tianjin Port was 3.054 million tons, an increase of 854000 tons over the end of April. Of these, 1.414 million tons were from South Africa, 324000 tons from the end of April, 358000 tons from Australia, 23000 tons from the end of April, 257000 tons from Brazil, 44000 tons from the end of April, and 324000 tons from Gabon. This is an increase of 92000 tons over the end of April, 170000 tons from Malaysia, 780000 tons from the end of April, and 334000 tons from Ghana, an increase of 213000 tons from the end of April.

According to the quotation of overseas mainstream mines to China in May, the average monthly exchange rate is 6.82, the cost of Australian dollar is about 51.79 yuan / ton, the cost of Gabon is about 50.48 yuan / ton, and the cost of semi-carbonic acid in South Africa is about 47.4 yuan / ton. As of May 28, according to the average price of SMM manganese ore, South African semi-carbon acid was quoted at 45.5 yuan per tonnage, with a loss of about 2.63 yuan per tonnage, Australian dollar at 53 yuan per tonnage, profit at 1.21 yuan per tonnage, and Gabon at 49 yuan per tonnage. The loss is about $1.48 per tonnage. The increase in inventory is higher than the total port inventory, and there are inverted prices this month. Manganese ore traders are under greater pressure to ship goods. While the downstream alloy prices are not optimistic, the excessive overstocking makes the bargaining power of traders squeezed again. In the case of inventory pressure has not been alleviated, the price of multi-mine pressure situation is still difficult to change, the future is difficult to be optimistic.

Date

South32

Comilog

UMK

Tshipi

 

45.5% Australian dollar

44.5% shawl

36.5% South African semi-carbonic acid

36.5% South African semi-carbonic acid

April 2019

6.72

6.7

6.28

6.25

May 2019

6.72

6.55

6.34

6.15

[SMM analysis] the volume-price relationship of imported manganese ore in Tianjin Port in May

Translation 04:46:03PM May 28, 2019 Source:Shanghai Nonferrous Metals Network
The content below was translated by Tencent automatically for reference.

The price of manganese ore in Tianjin Port continued to fall in May 2019, rising or stabilizing only at the end of the month, that is, before the steel move. The main reasons for the decline in the price of imported manganese ore in that month are as follows: first, the price of the downstream alloy market continues to decline. The profits of manufacturers have been seriously thwarted. In order to maintain the operating profit space, the downstream market has obviously suppressed the price of imported manganese ore. Second, the inventory of imported manganese mines in the north remains high, some minerals are still constantly high, and the bargaining power of manganese ore traders is weakened. Against this background, the average price of 38% semi-carbonic acid in South Africa in Tianjin Port in May was 5.69% lower than the average price in April, the average price of 46% in Australia was 6.21% lower than the average price in April, and the average price of 44% in Gabon in May was 6.87% lower than the average price in April.

By the end of the month, the amount of manganese ore imported into Tianjin Port in May was 1.6302 million tons (including ununloaded volume), the monthly inventory capacity was 1.5581 million tons, and the total inventory capacity of Tianjin Port was 3.054 million tons, an increase of 854000 tons over the end of April. Of these, 1.414 million tons were from South Africa, 324000 tons from the end of April, 358000 tons from Australia, 23000 tons from the end of April, 257000 tons from Brazil, 44000 tons from the end of April, and 324000 tons from Gabon. This is an increase of 92000 tons over the end of April, 170000 tons from Malaysia, 780000 tons from the end of April, and 334000 tons from Ghana, an increase of 213000 tons from the end of April.

According to the quotation of overseas mainstream mines to China in May, the average monthly exchange rate is 6.82, the cost of Australian dollar is about 51.79 yuan / ton, the cost of Gabon is about 50.48 yuan / ton, and the cost of semi-carbonic acid in South Africa is about 47.4 yuan / ton. As of May 28, according to the average price of SMM manganese ore, South African semi-carbon acid was quoted at 45.5 yuan per tonnage, with a loss of about 2.63 yuan per tonnage, Australian dollar at 53 yuan per tonnage, profit at 1.21 yuan per tonnage, and Gabon at 49 yuan per tonnage. The loss is about $1.48 per tonnage. The increase in inventory is higher than the total port inventory, and there are inverted prices this month. Manganese ore traders are under greater pressure to ship goods. While the downstream alloy prices are not optimistic, the excessive overstocking makes the bargaining power of traders squeezed again. In the case of inventory pressure has not been alleviated, the price of multi-mine pressure situation is still difficult to change, the future is difficult to be optimistic.

Date

South32

Comilog

UMK

Tshipi

 

45.5% Australian dollar

44.5% shawl

36.5% South African semi-carbonic acid

36.5% South African semi-carbonic acid

April 2019

6.72

6.7

6.28

6.25

May 2019

6.72

6.55

6.34

6.15