Chinese Australian manganese ore prices edge down
2023-03-17 08:39:52 [Print]
BEIJING (Asian Metal) 17 March 23 – Discouraged by the sluggish demand, most Chinese suppliers of Australian manganese ore decrease their prices slightly to promote sales. Currently, the prevailing prices of Australian manganese ore Mn 45%min, Fe 5%max, Si 8%max, P 0.09%max stand at RMB46-47/dmtu (USD6.65-6.80/dmtu) at Qinzhou port, decreased by RMB0.5/dmtu (USD0.07/dmtu) from this Monday. Considering the limited inventory and the high prices from overseas suppliers, insiders believe that the mainstream prices of Australian manganese ore in China would remain steady next week.
A trader in South China noted that their current quotation for Australian manganese ore Mn 45%min, Fe 5%max, Si 8%max, P 0.09%max at Qinzhou port stands at RMB46.5/dmtu (USD6.73/dmtu) and they could accept concessions of no more than RMB0.5/dmtu (USD0.07/dmtu). The trader offered RMB47/dmtu (USD6.80/dmtu) with no counteroffer early this week. while they quoted RMB48/dmtu (USD6.93/dmtu) without counteroffer at the beginning of the week. The trader disclosed, "We received an inquiry of 500t at RMB45/dmtu (USD6.51/dmtu) but we refused", adding that they last sold 1,000t at RMB46/dmtu (USD6.65/dmtu) mid this week. Given the limited inventory at the port despite the weak demand, the trader prefers to firm their price and predicts that the prevailing prices of Australian manganese ore in China would stay unchanged in the following days.
Based on the typical monthly trading volume of around 5,000t of Australian manganese ore, the trader estimates to sell nearly 5,000t this month, unchanged from the previous month. The trader currently holds approximately 20,000t of stocks.
Another trader in South China disclosed "We currently quote RMB46.5/dmtu (USD6.73/dmtu) for Australian manganese ore Mn 45%min, Fe 5%max, Si 8%max, P 0.09%max at Qinzhou port and we could consider the discount as much as RMB0.5/dmtu (USD0.07/dmtu)". They quoted RMB47/dmtu (USD6.80/dmtu) with the concession as much as RMB0.5/dmtu (USD0.07/dmtu) a the beginning of this week. The trader mentioned that they failed to receive an inquiry today and last sold 500t at RMB46/dmtu (USD6.65/dmtu) on Wednesday. As most downstream clients purchase from to mouth, the trader currently plans to firm their price but predicts that the prevailing prices of Australian manganese ore would move down slightly next week.
The trader,with a regular monthly trading volume of about 5,000t of Australian manganese ore, estimates to sell approximately 4,000t this month, down by about 1,000t from last month due to the weak demand. They have nearly 10,000t of inventory at present.
A trader in South China noted that their current quotation for Australian manganese ore Mn 45%min, Fe 5%max, Si 8%max, P 0.09%max at Qinzhou port stands at RMB46.5/dmtu (USD6.73/dmtu) and they could accept concessions of no more than RMB0.5/dmtu (USD0.07/dmtu). The trader offered RMB47/dmtu (USD6.80/dmtu) with no counteroffer early this week. while they quoted RMB48/dmtu (USD6.93/dmtu) without counteroffer at the beginning of the week. The trader disclosed, "We received an inquiry of 500t at RMB45/dmtu (USD6.51/dmtu) but we refused", adding that they last sold 1,000t at RMB46/dmtu (USD6.65/dmtu) mid this week. Given the limited inventory at the port despite the weak demand, the trader prefers to firm their price and predicts that the prevailing prices of Australian manganese ore in China would stay unchanged in the following days.
Based on the typical monthly trading volume of around 5,000t of Australian manganese ore, the trader estimates to sell nearly 5,000t this month, unchanged from the previous month. The trader currently holds approximately 20,000t of stocks.
Another trader in South China disclosed "We currently quote RMB46.5/dmtu (USD6.73/dmtu) for Australian manganese ore Mn 45%min, Fe 5%max, Si 8%max, P 0.09%max at Qinzhou port and we could consider the discount as much as RMB0.5/dmtu (USD0.07/dmtu)". They quoted RMB47/dmtu (USD6.80/dmtu) with the concession as much as RMB0.5/dmtu (USD0.07/dmtu) a the beginning of this week. The trader mentioned that they failed to receive an inquiry today and last sold 500t at RMB46/dmtu (USD6.65/dmtu) on Wednesday. As most downstream clients purchase from to mouth, the trader currently plans to firm their price but predicts that the prevailing prices of Australian manganese ore would move down slightly next week.
The trader,with a regular monthly trading volume of about 5,000t of Australian manganese ore, estimates to sell approximately 4,000t this month, down by about 1,000t from last month due to the weak demand. They have nearly 10,000t of inventory at present.
