Chinese South African manganese ore prices decrease
2023-03-15 08:30:00 [Print]
BEIJING (Asian Metal) 15 Mar 23 - Considering that the downstream clients stayed in no hurry to purchase, most suppliers of South African manganese ore in China cut their prices. Therefore, the current mainstream prices of South African manganese ore Mn 37%min Fe 5%max Si 6%max P0.018%max hover at RMB36-37/dmtu (USD5.23-5.38/dmtu) at Qinzhou port, decreased by RMB0.5/dmtu (USD0.07/dmtu) from the end of last week. Because of the weak demand, insiders predict that the mainstream prices of South African manganese ore in China would edge down in the coming days.
A trader in South China disclosed that they currently quote RMB36.5/dmtu (USD5.31/dmtu) for South African manganese ore Mn 37%min Fe 5%max Si 6%max P0.018%max at Qinzhou port without counteroffer, while they quoted RMB37/dmtu (USD5.38/dmtu) with no discount late last week. The trader mentioned, "We refused a client who bid RMB35.5/dmtu (USD5.16/dmtu) for 500t today and last sold 500t at RMB36.5/dmtu (USD5.31/dmtu) early this week". The trader would decrease their prices further if downstream clients refuse to accept current prices and they believe that the mainstream prices of South African manganese ore in China would edge down in the following days due to the soft demand.
The supplier, with a regular monthly sales volume of about 15,000t, estimates to sell approximately 15,000t this month, unchanged from that in February. The trader holds about 15,000t of stocks now.
Another trader in South China mentioned, "Our quotation for South African manganese ore Mn 37%min Fe 5%max Si 6%max P0.018%max at Qinzhou port stands at RMB36.5/dmtu (USD5.31/dmtu) today and we could accept the concession as much as RMB0.5/dmtu (USD0.07/dmtu)". The trader offered RMB36.5/dmtu (USD5.31/dmtu) and refuse to accept any counteroffer late last week. The trader disclosed that they received no inquiry today and last sold 500t at RMB36.5/dmtu (USD5.31/dmtu) late last week. Because of the sluggish demand, the trader plans to decrease their price further and predicts that the mainstream price of South African manganese ore in China might edge down in the following days.
Based on the typical monthly trading volume of about 5,000t, the supplier estimates to sell nearly 5,000t this month, on par with last month. The trader has the inventory of about 5,000t now.
A trader in South China disclosed that they currently quote RMB36.5/dmtu (USD5.31/dmtu) for South African manganese ore Mn 37%min Fe 5%max Si 6%max P0.018%max at Qinzhou port without counteroffer, while they quoted RMB37/dmtu (USD5.38/dmtu) with no discount late last week. The trader mentioned, "We refused a client who bid RMB35.5/dmtu (USD5.16/dmtu) for 500t today and last sold 500t at RMB36.5/dmtu (USD5.31/dmtu) early this week". The trader would decrease their prices further if downstream clients refuse to accept current prices and they believe that the mainstream prices of South African manganese ore in China would edge down in the following days due to the soft demand.
The supplier, with a regular monthly sales volume of about 15,000t, estimates to sell approximately 15,000t this month, unchanged from that in February. The trader holds about 15,000t of stocks now.
Another trader in South China mentioned, "Our quotation for South African manganese ore Mn 37%min Fe 5%max Si 6%max P0.018%max at Qinzhou port stands at RMB36.5/dmtu (USD5.31/dmtu) today and we could accept the concession as much as RMB0.5/dmtu (USD0.07/dmtu)". The trader offered RMB36.5/dmtu (USD5.31/dmtu) and refuse to accept any counteroffer late last week. The trader disclosed that they received no inquiry today and last sold 500t at RMB36.5/dmtu (USD5.31/dmtu) late last week. Because of the sluggish demand, the trader plans to decrease their price further and predicts that the mainstream price of South African manganese ore in China might edge down in the following days.
Based on the typical monthly trading volume of about 5,000t, the supplier estimates to sell nearly 5,000t this month, on par with last month. The trader has the inventory of about 5,000t now.
