South African manganese ore prices decrease in China
2023-03-02 08:35:58 [Print]
BEIJING (Asian Metal) 2 March 23 - Given the soft demand and the increased inventory at the port, most Chinese suppliers of South African manganese ore dropped their prices to maintain sales. Currently, the mainstream prices of South African manganese ore Mn 37%min Fe 5%max Si 6%max P0.018%max stay at RMB37-38/dmtu (USD5.36-5.49/dmtu) at Qinzhou port, down by RMB2/dmtu (USD0.28/dmtu) from early this week. As most end consumers hold watchful attitudes and stay in no hurry to purchase, insiders believe that the mainstream prices of South African manganese ore in the Chinese market would soften in the following days.
A trader in South China revealed that they quote RMB37/dmtu (USD5.38/dmtu) for South African manganese ore Mn 37%min Fe 5%max Si 6%max P0.018%max at Qinzhou port at the moment, and they could consider the price as low as RMB36.5/dmtu (USD5.31/dmtu). The trader quoted RMB37.5/dmtu (USD5.45/dmtu) with concessions of no more than RMB0.5/dmtu (USD0.07/dmtu) at the beginning of this week. The trader noted that they received no inquiry today and last sold 800t at RMB37/dmtu (USD5.38/dmtu) early this week. Considering the soft demand, the supplier has the intention to decrease their quotation further and believes that the prevailing prices of South African manganese ore in China would soft in the following days.
The supplier, based on the typical monthly trading volume of about 15,000t, estimates to sell around 15,000t in March, unchanged from last month. They hold an inventory of around 10,000t at the moment.
Another trader in South China stated that they currently quote RMB38/dmtu (USD5.53/dmtu) for South African manganese ore Mn 37%min Fe 5%max Si 6%max P0.018%max at Qinzhou port with concessions of no more than RMB0.5/dmtu (USD0.07/dmtu), while they could not accept any counteroffer early this week. The trader mentioned, "We closed no deal today due to no inquiry, and we last sold 1,000t at RMB38/dmtu (USD5.53/dmtu) mid last week". Given the weak demand, the supplier intends to cut their price and predicts that the prevailing price of South African manganese ore in China would drop again next week.
With a regular monthly trading volume of approximately 5,000t, the supplier estimates to sell about 5,000t in March, unchanged from last month. They have stocks of around 5,000t at present.
A trader in South China revealed that they quote RMB37/dmtu (USD5.38/dmtu) for South African manganese ore Mn 37%min Fe 5%max Si 6%max P0.018%max at Qinzhou port at the moment, and they could consider the price as low as RMB36.5/dmtu (USD5.31/dmtu). The trader quoted RMB37.5/dmtu (USD5.45/dmtu) with concessions of no more than RMB0.5/dmtu (USD0.07/dmtu) at the beginning of this week. The trader noted that they received no inquiry today and last sold 800t at RMB37/dmtu (USD5.38/dmtu) early this week. Considering the soft demand, the supplier has the intention to decrease their quotation further and believes that the prevailing prices of South African manganese ore in China would soft in the following days.
The supplier, based on the typical monthly trading volume of about 15,000t, estimates to sell around 15,000t in March, unchanged from last month. They hold an inventory of around 10,000t at the moment.
Another trader in South China stated that they currently quote RMB38/dmtu (USD5.53/dmtu) for South African manganese ore Mn 37%min Fe 5%max Si 6%max P0.018%max at Qinzhou port with concessions of no more than RMB0.5/dmtu (USD0.07/dmtu), while they could not accept any counteroffer early this week. The trader mentioned, "We closed no deal today due to no inquiry, and we last sold 1,000t at RMB38/dmtu (USD5.53/dmtu) mid last week". Given the weak demand, the supplier intends to cut their price and predicts that the prevailing price of South African manganese ore in China would drop again next week.
With a regular monthly trading volume of approximately 5,000t, the supplier estimates to sell about 5,000t in March, unchanged from last month. They have stocks of around 5,000t at present.
