SHANGHAI, Apr. 20 (SMM) –
Review:
Shipment continued to arrive at China’s northern ports, while arrivals in southern ports were limited. Over 7,000 mt of South African high-Fe manganese ore arrived at Chinese ports this past week, forcing traders to cut offers by RMB 1-1.5/mtu on average.
Prices:
In Tianjin port, mainstream traded prices were RMB 27/mtu for Australian manganese ore (Mn46%, lump), RMB 25-25.5/mtu for South African semi carbonate manganese ore (Mn38%, lump), and RMB 24/mtu for Brazilian manganese ore (Mn45%Fe5%, lump).
In southern ports, Australian manganese ore (Mn46%, lump) was largely quoted at RMB 27/mtu. Mainstream traded prices were RMB 25-25.5/mtu for South African semi carbonate manganese ore (Mn38%, lump), and RMB 25/mtu for Brazilian manganese ore (Mn45%Fe5%, lump).
Inventories:
Inventories at ports totaled nearly 3 million mt on April 17, little changed from a week ago. Stocks were 30,000 mt at Lianyungang port (excluding bonded stocks), 1.97 million mt at Tianjin port, 900,000 mt at Qinzhou port, 26,200 mt at Zhanjiang port, 29,800 mt at Beihai port, and 39,000 mt at Fangchenggang port.
Forecast:
Sluggish downstream consumption will prevent manganese ore prices at ports from rising this week.