Brazilian manganese ore market increases slightly
2010-02-25 08:47:46 【Print】
PITTSBURGH (Asian Metal) 25 Feb 10 – Medium-grade manganese ore prices picked up slightly Brazil this week as demand from the Chinese market showed signs of life after the New Year break.
Prices rose to USD5.0-5.1/dmtu FOB Brazil, an increase of about USD0.2/dmtu from the previous week. Few deals have been concluded since the return of the Chinese to the market, but Brazilian ore suppliers have already raised their offering prices.
A Brazilian ore supplier, with a total capacity of 20,000t/m of 44%min ore, received inquiries so far this week from Chinese buyers at USD4.6-4.8/dmtu FOB Brazil, but did not conclude any business. The source has not booked any sales since his long-term supply contract with a Chinese client ended at the start of the 2010.
“It is good to have the Chinese back in the market again. There were concerns that after the Chinese New Year there would be fewer inquiries, but that is definitely not the case. Demand is still very strong,” the supplier commented.
A Brazilian trader, who cited prices at USD5.0-5.2/dmtu FOB Brazil currently for 44%min ore, last booked a spot sale of 2,000t to a European buyer at the beginning of January. The source agreed that overall demand was strong, and there should be higher figures in the short-term.
“There is still not that much material available,” the source said. “International demand is strong, and prices in China are on the rise, too. It is no surprise that we have seen [manganese ore] pricing in Brazil jump as well.”
Prices rose to USD5.0-5.1/dmtu FOB Brazil, an increase of about USD0.2/dmtu from the previous week. Few deals have been concluded since the return of the Chinese to the market, but Brazilian ore suppliers have already raised their offering prices.
A Brazilian ore supplier, with a total capacity of 20,000t/m of 44%min ore, received inquiries so far this week from Chinese buyers at USD4.6-4.8/dmtu FOB Brazil, but did not conclude any business. The source has not booked any sales since his long-term supply contract with a Chinese client ended at the start of the 2010.
“It is good to have the Chinese back in the market again. There were concerns that after the Chinese New Year there would be fewer inquiries, but that is definitely not the case. Demand is still very strong,” the supplier commented.
A Brazilian trader, who cited prices at USD5.0-5.2/dmtu FOB Brazil currently for 44%min ore, last booked a spot sale of 2,000t to a European buyer at the beginning of January. The source agreed that overall demand was strong, and there should be higher figures in the short-term.
“There is still not that much material available,” the source said. “International demand is strong, and prices in China are on the rise, too. It is no surprise that we have seen [manganese ore] pricing in Brazil jump as well.”
