Manganese ore prices in China rise
2024-04-22 08:31:09 [Print]
BEIJING (Asian Metal) 22 Apr 24 - As buyers gradually accept the high quoting prices, the current mainstream prices of Australian manganese ore 45%min at Qinzhou port jump RMB1.5/dmtu (USD0.21/dmtu) to RMB38.2-39.2/dmtu (USD5.28-5.41/dmtu). Market participants hold a positive attitude towards the prospect.
A trader in Guangdong revealed that currently they quote RMB41/dmtu (USD5.66/dmtu) for Australian manganese ore 45%min at Qinzhou port, and don't accept the sales prices below RMB40/dmtu (USD5.52/dmtu). Their latest deal dates back to last week, when they sold around 3,500t at RMB39.5/dmtu (USD5.46/dmtu). This price is up from that in early April, when they sold around 1,000t at RMB35.3/dmtu (USD4.88/dmtu). "The quoting prices stand at the high level since the beginning of last week. Now as the number of actual deals also increases, we expect the prices to stay firm in the next week," said the trader.
With a monthly trading volume of around 45,000t, the trader now holds around 3,000t of inventories.
A consumer in Guangxi disclosed that they received quotes at RMB40/dmtu (USD5.52/dmtu) for Australian manganese ore 45%min at Qinzhou port, but did not close any deal. They last bought around 10,000t at RMB34.5/dmtu (USD4.76/dmtu) early last month, and now they plan to consume their current stocks to get through April. Prior to this round of price increase, they used to sell a part of their purchased manganese ores for profit, but this week they stopped quoting. "If we sell our stocks now, we might need to repurchase at even higher prices in the forthcoming days," said the consumer.
They consumer now holds around 2,500t of inventories. They used to sell around 1,500t monthly.
A trader in Guangdong revealed that currently they quote RMB41/dmtu (USD5.66/dmtu) for Australian manganese ore 45%min at Qinzhou port, and don't accept the sales prices below RMB40/dmtu (USD5.52/dmtu). Their latest deal dates back to last week, when they sold around 3,500t at RMB39.5/dmtu (USD5.46/dmtu). This price is up from that in early April, when they sold around 1,000t at RMB35.3/dmtu (USD4.88/dmtu). "The quoting prices stand at the high level since the beginning of last week. Now as the number of actual deals also increases, we expect the prices to stay firm in the next week," said the trader.
With a monthly trading volume of around 45,000t, the trader now holds around 3,000t of inventories.
A consumer in Guangxi disclosed that they received quotes at RMB40/dmtu (USD5.52/dmtu) for Australian manganese ore 45%min at Qinzhou port, but did not close any deal. They last bought around 10,000t at RMB34.5/dmtu (USD4.76/dmtu) early last month, and now they plan to consume their current stocks to get through April. Prior to this round of price increase, they used to sell a part of their purchased manganese ores for profit, but this week they stopped quoting. "If we sell our stocks now, we might need to repurchase at even higher prices in the forthcoming days," said the consumer.
They consumer now holds around 2,500t of inventories. They used to sell around 1,500t monthly.
