This week, the trading volume of the imported manganese oxide mine market fell significantly, and at the same time, subject to the cash flow pressure brought about by the account period, the price of the manganese mine in the port fell near the weekend, while a trader of the Australian mine quoted an astonishingly low price, but only a small range of quotations. It has not spread widely in the market.
Starting from Tuesday this week, spot transactions in the port have obviously taken a turn for the worse, with transactions outside Brazilian mines gradually stagnant, and transactions at Brazilian mines also fell sharply on Thursday and Friday, but the number of inquiries is large, and operators believe that downstream demand is still high. However, a trading company in Tianjin Port revealed that it was obviously lower than the market price of about 2 yuan / tonnage, and involved in a large quantity. According to market rumors, the company caused abnormal capital chain due to upper management problems, forcing low-price mining. The market rumors caused panic in some areas, and some traders said they needed to lower their quotations slightly to avoid a loss of short-term market share that had already reduced shipments. At the same time, CML8's 46 per cent offer to China is US $6.05 per tonnage (CIF main port in China), down US $0.35 per tonnage from the previous month. Whether the decline in quotations at home and abroad has a negative impact on mining prices remains to be reacted by the market.
SMM today imported manganese ore quotation is basically flat, although the Australian mine has a low price, but has not yet become the mainstream of the market, and the transaction situation is not clear, so the SMM price has not yet fully adopted the abnormal low price to enter the price reference. The high quotations of other minerals have also been significantly reduced, and the relatively low quotations have become the mainstream. The industry said that the reasons for reducing the high quotations are mainly due to the pressure of cash flow and in order to promote transactions, but it is also considered that the possibility of a sharp fall in prices in the future is relatively small. At present, the port is still declining, and the balance between supply and demand of manganese mines has gradually improved.