Chinese South African manganese ore suppliers hold bearish attitudes
2023-03-24 08:31:16 [Print]
BEIJING (Asian Metal) 24 March 23 - As most suppliers of South African manganese ore in China felt hard to receive new inquiries this week, they hold pessimistic attitudes to the market. Currently, the mainstream prices of South African manganese ore Mn 36%min Fe 6%max Si 7%max P 0.03%max stay at RMB33.5-34.5/dmtu (USD4.91-5.05/dmtu) at Tianjin port, in line with mid this week. Considering that the market shows a weak demand, insiders predict that the prevailing prices of South African manganese ore in China would move down in the coming days.
A trader in North China stated, "We received no inquiry so far this week and we failed to close the deal for over a week, and we hold a bearish attitude to the market". The trader disclosed that they currently offer RMB33.5/dmtu (USD4.91/dmtu) for South African manganese ore Mn 36%min Fe 6%max Si 7%max P 0.03%max at Tianjin port without concession, on par with mid this week. The trader received no inquiry today and last sold 500t at RMB34/dmtu (USD4.98/dmtu) early last week. Considering the sluggish demand, the trader intends to decrease their price and believes that the mainstream prices of South African manganese ore in China would decline slightly next week.
The trader, with the typical monthly trading volume of about 3,000t, estimates to sell around 2,000t this month, down by around 1,000t from the previous month given that the downstream clients purchase inactively. The trader holds no inventory at present.
Another trader in South China mentioned that their clients started to stop purchasing due to the high inventory and they received no inquiry this week, they maintain a bearish attitude to the market. The trader stated, "We currently quote RMB34/dmtu (USD4.98/dmtu) for South African manganese ore Mn 36%min Fe 6%max Si 7%max P 0.03%max at Tianjin port and we could not accept any counteroffer, unchanged from mid this week". The trader received no inquiry and last sold 300t at RMB34/dmtu (USD4.98/dmtu) late last week. Given the soft demand, the trader plans to decrease their price and expects that the mainstream prices of South African manganese ore in China would edge down in the following days.
Based on the regular monthly sales volume of around 5,000t, the trader estimates to sell nearly 3,000t this month, down by about 2,000t from last month due to the soft demand. They hold around 10,000t of inventory at the moment.
A trader in North China stated, "We received no inquiry so far this week and we failed to close the deal for over a week, and we hold a bearish attitude to the market". The trader disclosed that they currently offer RMB33.5/dmtu (USD4.91/dmtu) for South African manganese ore Mn 36%min Fe 6%max Si 7%max P 0.03%max at Tianjin port without concession, on par with mid this week. The trader received no inquiry today and last sold 500t at RMB34/dmtu (USD4.98/dmtu) early last week. Considering the sluggish demand, the trader intends to decrease their price and believes that the mainstream prices of South African manganese ore in China would decline slightly next week.
The trader, with the typical monthly trading volume of about 3,000t, estimates to sell around 2,000t this month, down by around 1,000t from the previous month given that the downstream clients purchase inactively. The trader holds no inventory at present.
Another trader in South China mentioned that their clients started to stop purchasing due to the high inventory and they received no inquiry this week, they maintain a bearish attitude to the market. The trader stated, "We currently quote RMB34/dmtu (USD4.98/dmtu) for South African manganese ore Mn 36%min Fe 6%max Si 7%max P 0.03%max at Tianjin port and we could not accept any counteroffer, unchanged from mid this week". The trader received no inquiry and last sold 300t at RMB34/dmtu (USD4.98/dmtu) late last week. Given the soft demand, the trader plans to decrease their price and expects that the mainstream prices of South African manganese ore in China would edge down in the following days.
Based on the regular monthly sales volume of around 5,000t, the trader estimates to sell nearly 3,000t this month, down by about 2,000t from last month due to the soft demand. They hold around 10,000t of inventory at the moment.
