SHANGHAI, Mar. 9 (SMM) –
Review:
Most overseas suppliers cut manganese ore offers for shipment to China in March by USD about 0.4/mtu. More expensive ore imported earlier is still piling up at ports, and cheaper ore has arrived at Chinese ports, leaving offers at ports mixed. Steel mills cut SiMn alloy bid prices, also bad news for manganese ore.
Prices:
In Tianjin port, mainstream traded prices were RMB 32-32.5/mtu for Australian manganese ore (Mn46%, lump), RMB 28/mtu for South African semi carbonate manganese ore (Mn38%, lump), and RMB 29/mtu for Brazilian manganese ore (Mn45%Fe5%, lump).
In southern ports, Australian manganese ore (Mn46%, lump) was largely quoted at RMB 31.8-32/mtu. Mainstream traded prices were RMB 27.3-27.5/mtu for South African semi carbonate manganese ore (Mn38%, lump), and RMB 27.8-28/mtu for Brazilian manganese ore (Mn45%Fe5%, lump).
Inventories:
Inventories at ports totaled 3.08 million mt as of March 6, up significantly from a week ago. Stocks were 20,000 mt at Lianyungang port (unavailable for sale), 2 million mt at Tianjin port, 950,000 mt at Qinzhou port, 30,000 mt at Zhanjiang port, almost 30,000 mt at Beihai port, and less than 50,000 mt at Fangchenggang port.
Forecast:
Manganese ore prices at ports are expected to remain in downward track this week.