Chinese manganese ore prices edge up
2024-04-09 12:03:40 [Print]
BEIJING (Asian Metal) 9 Apr 24 - As the new round of invitation for bids of manganese alloys by steel mills approaches and major smelters expect better prices, the current mainstream prices of South African manganese ore 36%min in China move up a little bit to RMB32.2-33.2/dmtu (USD4.45-4.59/dmtu), 0.2/dmtu (USD0.03/dmtu) higher than last week. However, as the current downstream demand remains tepid, traders hold a cautious attitude towards the market prospect.
A trader in Shanghai disclosed that yesterday they sold 1,000t South African manganese ore 36%min at Qinzhou port with the price of RMB34/dmtu (USD4.70/dmtu). "As many traders now hold their stocks and wait for better prices, I got the chance of making a deal," said the trader. Last week they quoted at RMB33/dmtu (USD4.56/dmtu), but did not close any deal because of the low market. As the actual downstream demand is still yet to be seen, the trader now holds a wait-and-see attitude towards the market.
With a monthly trading volume of 45,000t, the trader keeps around 10,000t inventory at present.
Another trader in Jiangsu revealed that currently they quote at around RMB35.2/dmtu (USD4.87/dmtu) for South African manganese ore 36% at Tianjin port. Though they didn't close any deal at the new price level yet, they plan to insist on the price for a few days for the opportunity of profit. Last week they quoted at RMB33/dmtu (USD4.56/dmtu), and prepared to sell at RMB32.7/dmtu (USD4.52/dmtu). Their latest deal was in late March, when they sold 1,000t at RMB33.2/dmtu (USD4.59/dmtu). "Though now quoting prices are up, we need to watch the actual demand from smelters to see how long this trend will last," said the trader.
With a monthly trading volume of around 10,000t, the trader keeps 10,000t inventory at present.
A trader in Shanghai disclosed that yesterday they sold 1,000t South African manganese ore 36%min at Qinzhou port with the price of RMB34/dmtu (USD4.70/dmtu). "As many traders now hold their stocks and wait for better prices, I got the chance of making a deal," said the trader. Last week they quoted at RMB33/dmtu (USD4.56/dmtu), but did not close any deal because of the low market. As the actual downstream demand is still yet to be seen, the trader now holds a wait-and-see attitude towards the market.
With a monthly trading volume of 45,000t, the trader keeps around 10,000t inventory at present.
Another trader in Jiangsu revealed that currently they quote at around RMB35.2/dmtu (USD4.87/dmtu) for South African manganese ore 36% at Tianjin port. Though they didn't close any deal at the new price level yet, they plan to insist on the price for a few days for the opportunity of profit. Last week they quoted at RMB33/dmtu (USD4.56/dmtu), and prepared to sell at RMB32.7/dmtu (USD4.52/dmtu). Their latest deal was in late March, when they sold 1,000t at RMB33.2/dmtu (USD4.59/dmtu). "Though now quoting prices are up, we need to watch the actual demand from smelters to see how long this trend will last," said the trader.
With a monthly trading volume of around 10,000t, the trader keeps 10,000t inventory at present.
