Chinese Australian manganese ore prices moved down
2023-03-02 08:35:52 [Print]
BEIJING (Asian Metal) 2 March 23 – Dragged by the soft demand, most suppliers of Australian manganese ore in China cut their quotation from early this week to promote sales. Therefore, the current mainstream prices of Australian manganese ore Mn 45%min, Fe 5%max, Si 8%max, P 0.09%max stand at RMB47.5-48.5/dmtu (USD6.86-7.00/dmtu) at Qinzhou port, down by RMB0.5/dmtu (USD0.07/dmtu) from early this week. Given the high prices from overseas suppliers despite the weak demand, insiders predict that the prevailing prices of Australian manganese ore in China would stay unchanged in the following days.
A trader in South China disclosed that their quotation for Australian manganese ore Mn 45%min, Fe 5%max, Si 8%max, P 0.09%max at Qinzhou port hovers at RMB48/dmtu (USD6.93/dmtu) and they could accept the price as low as RMB47.5/dmtu (USD6.86/dmtu) at the moment, while they quoted RMB48/dmtu (USD6.93/dmtu) without counteroffer at the beginning of the week. The trader received no inquiry today and they last sold 1,000t at RMB47.5/dmtu (USD6.86/dmtu) yesterday. The trader intends to decline their quotation and believes that the prevailing prices of Australian manganese ore in China would edge down as the downstream clients would not accept higher prices.
With the regular monthly trading volume of approximately 10,000t of Australian manganese ore, the trader estimates to sell around 10,000t in March, increased by about 2,000t from February due to the expectation of the increased demand. They hold around 6,000t of inventory at the moment.
Another trader in South China revealed, "We quote RMB47.5/dmtu (USD6.86/dmtu) for Australian manganese ore Mn 45%min, Fe 5%max, Si 8%max, P 0.09%max at Qinzhou port and we could not accept the price lower than RMB47/dmtu (USD6.79/dmtu), while we quote RMB47.5/dmtu (USD6.86/dmtu) with no concession early this week". The trader received no inquiry and last sold 500t at RMB47.5/dmtu (USD6.86/dmtu) early this week. In the view of the high prices from overseas suppliers, the trader has no intention to decrease their price further and believes that the mainstream prices of Australian manganese ore would stay firm in the following week despite the weak demand.
The trader, based on the typical monthly sales volume of nearly 2,000t of Australian manganese ore, estimates to sell about 1,500t in March, unchanged from last month. They currently hold about 1,500t of stocks.
A trader in South China disclosed that their quotation for Australian manganese ore Mn 45%min, Fe 5%max, Si 8%max, P 0.09%max at Qinzhou port hovers at RMB48/dmtu (USD6.93/dmtu) and they could accept the price as low as RMB47.5/dmtu (USD6.86/dmtu) at the moment, while they quoted RMB48/dmtu (USD6.93/dmtu) without counteroffer at the beginning of the week. The trader received no inquiry today and they last sold 1,000t at RMB47.5/dmtu (USD6.86/dmtu) yesterday. The trader intends to decline their quotation and believes that the prevailing prices of Australian manganese ore in China would edge down as the downstream clients would not accept higher prices.
With the regular monthly trading volume of approximately 10,000t of Australian manganese ore, the trader estimates to sell around 10,000t in March, increased by about 2,000t from February due to the expectation of the increased demand. They hold around 6,000t of inventory at the moment.
Another trader in South China revealed, "We quote RMB47.5/dmtu (USD6.86/dmtu) for Australian manganese ore Mn 45%min, Fe 5%max, Si 8%max, P 0.09%max at Qinzhou port and we could not accept the price lower than RMB47/dmtu (USD6.79/dmtu), while we quote RMB47.5/dmtu (USD6.86/dmtu) with no concession early this week". The trader received no inquiry and last sold 500t at RMB47.5/dmtu (USD6.86/dmtu) early this week. In the view of the high prices from overseas suppliers, the trader has no intention to decrease their price further and believes that the mainstream prices of Australian manganese ore would stay firm in the following week despite the weak demand.
The trader, based on the typical monthly sales volume of nearly 2,000t of Australian manganese ore, estimates to sell about 1,500t in March, unchanged from last month. They currently hold about 1,500t of stocks.
