Chinese manganese ore prices fall
2024-04-02 09:09:10 [Print]
BEIJING (Asian Metal) 2 Apr 24 - As the demand from the downstream stays uncertain, the mainstream prices of Australian manganese ore 45%min at Qinzhou port dropped by RMB0.5/dmtu (USD0.07/dmtu) from the last week to RMB35-36/dmtu (USD4.8-5.0/dmtu). Insiders predict that the prices will remain in the coming days.
A trader in South China disclosed that currently they quote RMB36/dmtu (USD5.0/dmtu) for Australian manganese ore 45%min at Qinzhou port, and expect to sell at RMB35.5/dmtu (USD4.9/dmtu). They won't accept the sales price lower than RMB35/dmtu (USD4.8/dmtu). Last week they received inquiries at around RMB34/dmtu (USD4.7/dmtu), but did not close any deal. "Their offered price is outrageous, even in such a low market," said the trader. Seeing the downstream smelters shutting down one after another, the trader thinks the prices will remain low in the next week.
The trader estimates to sell 1,000t this month, 1,000t lower than the previous month. They now keep no inventory.
Another trader in South China revealed that currently their quoting price for Australian manganese ore 45%min at Qinzhou port is RMB36.5/dmtu (USD5.05/dmtu), and they target to sell at RMB36/dmtu (USD5.0/dmtu). Their latest order was in the last week, when they sold 2,000t at around RMB35.7/dmtu (USD4.9/dmtu). As the majority of manganese ore consumption in China is still related to infrastructure construction, the trader holds a pessimistic attitude towards the market. "It will be good if the prices can remain," said the trader.
With a monthly trading volume of around 4,500t, the trader now holds over 10,000t inventory.
A trader in South China disclosed that currently they quote RMB36/dmtu (USD5.0/dmtu) for Australian manganese ore 45%min at Qinzhou port, and expect to sell at RMB35.5/dmtu (USD4.9/dmtu). They won't accept the sales price lower than RMB35/dmtu (USD4.8/dmtu). Last week they received inquiries at around RMB34/dmtu (USD4.7/dmtu), but did not close any deal. "Their offered price is outrageous, even in such a low market," said the trader. Seeing the downstream smelters shutting down one after another, the trader thinks the prices will remain low in the next week.
The trader estimates to sell 1,000t this month, 1,000t lower than the previous month. They now keep no inventory.
Another trader in South China revealed that currently their quoting price for Australian manganese ore 45%min at Qinzhou port is RMB36.5/dmtu (USD5.05/dmtu), and they target to sell at RMB36/dmtu (USD5.0/dmtu). Their latest order was in the last week, when they sold 2,000t at around RMB35.7/dmtu (USD4.9/dmtu). As the majority of manganese ore consumption in China is still related to infrastructure construction, the trader holds a pessimistic attitude towards the market. "It will be good if the prices can remain," said the trader.
With a monthly trading volume of around 4,500t, the trader now holds over 10,000t inventory.
