SMM Manganese Ore Weekly Price Review and Forecast (May 11-15, 2015)

SHANGHAI, May 11 (SMM) –

 

Manganese ore prices at Chinese ports dropped slightly in the week ending May 8. However, traders at the Port of Tianjin raised offers of Australian ore and South African semi carbonate ore in the second half of the week. This is partly because traders were unwilling to suffer more losses. Besides, slightly growing operating rates at SiMn alloy producers allowed manganese ore demand to improve, another reason for traders to raise offers.  

 

In Tianjin port, Australian manganese ore (Mn46%, lump) was largely offered at RMB 24-24.5/mtu for, RMB 21/mtu for South African semi carbonate manganese ore (Mn38%, lump), and RMB 21-21.5/mtu for Brazilian manganese ore (Mn45%Fe5%, lump). 

 

In southern ports, Australian manganese ore (Mn46%, lump) was largely quoted at RMB 24.5-25/mtu, RMB 21/mtu for South African semi carbonate manganese ore (Mn38%, lump), and RMB 21.5-22/mtu for Brazilian manganese ore (Mn45%Fe5%, lump). 

 

Inventories at ports totaled 2.96 million mt as of May 8, up 26,000 mt from a week ago. Stocks were 1.98 million mt at Tianjin port, 30,000 mt at Lianyungang port (excluding bonded stocks), 875,000 mt at Qinzhou port, 20,000 mt at Zhanjiang port, 28,000 mt at Beihai port, and 29,000 mt at Fangchenggang port. 

 

Manganese ore prices at ports might inch up this week.