SHANGHAI, Dec 22 (SMM) – According to Chinese customs, China imported 2.25 million mt of manganese ore in November, down 12.7% MoM and 25.9% YoY, and the exports stood at 2,900 mt, surging 246.53% MoM.
The imports totalled 27.84 mt from January to November, and the exports totalled 14,400 mt.
According to SMM survey, the power supply in the manganese alloy producing areas was recovering since November, which was expected to boost the demand of manganese ore. However, the purchasing prices of steel mills fell short of expectations for two consecutive week, which kept squeezing the profits of manganese alloy plants, so the manganese ore prices dropped for lack of upward momentum.
The semi-closed EAFs producing manganese alloy in Inner Mongolia are expected to be suspended for reconstruction in December, and the output may drop by 30-40%, which will drag down the demand of manganese ore. However, the prices may stabilise as the traders will hold firm to the prices amid losses.
