Chinese South African manganese ore prices decrease
2023-03-10 08:34:17 [Print]
BEIJING (Asian Metal) 10 March 23 - As the inventory at the ports stays at a high level and downstream clients purchase inactively, the majority of Chinese suppliers of South African manganese ore start to decline their prices. Hence, the present mainstream prices of South African manganese ore Mn 36%min Fe 6%max Si 7%max P0.03%max hover at RMB34.5-35.5/dmtu (USD4.96-5.10/dmtu) at Tianjin port, down by RMB0.5/dmtu (USD0.07/dmtu) from the beginning of this week. Due to the sluggish downstream demand, insiders believe that the mainstream prices of South African manganese ore in China would decline further in the coming days.
A trader in North China disclosed that they currently quote RMB36/dmtu (USD5.18/dmtu) for South African manganese ore Mn 36%min Fe 6%max Si 7%max P0.03%max at Tianjin port with the concession as much as RMB1/dmtu (USD0.14/dmtu), while they quoted RMB36/dmtu (USD5.18/dmtu) with counteroffers of no more than RMB0.5/dmtu (USD0.07/dmtu) on Monday. The trader stated, "We failed to receive new orders today and last sold 1,000t at RMB35.5/dmtu (USD5.10/dmtu) early this week". Given that the prices from overseas suppliers declined this month, the trader might decline their price slightly and predicts that the mainstream prices of South African manganese ore in China would decrease slightly next week.
The trader, based on the regular monthly trading volume of about 8,000t of South African manganese ore, estimates to sell nearly 5,000t this month, in line with last month. The trader holds about 15,000t of stocks at present.
Another trader in North China noted, "Our quotation for South African manganese ore Mn 36%min Fe 6%max Si 7%max P0.03%max at Tianjin port hovers at RMB35.5/dmtu (USD5.10/dmtu) today and we could consider the price as low as RMB34.5/dmtu (USD4.96/dmtu), while we quoted RMB36/dmtu (USD5.18/dmtu) with the discount as much as RMB1/dmtu (USD0.14/dmtu) early this week". The trader stated that they received no inquiry today and last sold 1,000t at RMB35/dmtu (USD5.03/dmtu) early this week. Due to the stable demand, the supplier plans to hold their price unchanged and predicts that the prevailing price of South African manganese ore in China might stay flat in the coming days.
With a typical monthly sales volume of nearly 5,000t of South African manganese ore, the supplier estimates to sell approximately 5,000t in March, on par with the previous month. They currently have about 10,000t of stocks now.
A trader in North China disclosed that they currently quote RMB36/dmtu (USD5.18/dmtu) for South African manganese ore Mn 36%min Fe 6%max Si 7%max P0.03%max at Tianjin port with the concession as much as RMB1/dmtu (USD0.14/dmtu), while they quoted RMB36/dmtu (USD5.18/dmtu) with counteroffers of no more than RMB0.5/dmtu (USD0.07/dmtu) on Monday. The trader stated, "We failed to receive new orders today and last sold 1,000t at RMB35.5/dmtu (USD5.10/dmtu) early this week". Given that the prices from overseas suppliers declined this month, the trader might decline their price slightly and predicts that the mainstream prices of South African manganese ore in China would decrease slightly next week.
The trader, based on the regular monthly trading volume of about 8,000t of South African manganese ore, estimates to sell nearly 5,000t this month, in line with last month. The trader holds about 15,000t of stocks at present.
Another trader in North China noted, "Our quotation for South African manganese ore Mn 36%min Fe 6%max Si 7%max P0.03%max at Tianjin port hovers at RMB35.5/dmtu (USD5.10/dmtu) today and we could consider the price as low as RMB34.5/dmtu (USD4.96/dmtu), while we quoted RMB36/dmtu (USD5.18/dmtu) with the discount as much as RMB1/dmtu (USD0.14/dmtu) early this week". The trader stated that they received no inquiry today and last sold 1,000t at RMB35/dmtu (USD5.03/dmtu) early this week. Due to the stable demand, the supplier plans to hold their price unchanged and predicts that the prevailing price of South African manganese ore in China might stay flat in the coming days.
With a typical monthly sales volume of nearly 5,000t of South African manganese ore, the supplier estimates to sell approximately 5,000t in March, on par with the previous month. They currently have about 10,000t of stocks now.
