Seaborne manganese ore prices to China were unchanged this week in quiet trade as the market watched Chinese port prices soften.
S&P Global Platts assessed 44% ores flat week on week at $9.10/dry mt unit CIF Tianjin Friday and 37% manganese ores unchanged at $8.2/dmtu CIF Tianjin.
Chinese participants noted that ores at Chinese ports were falling by about Yuan 3-5/dmtu, ex-ports as demand slowed. Chinese buyers and traders said that they were less interested in purchasing now as raw materials such as coal had become too high, and they could no longer bear such high prices. "Coal prices are up. At these prices we will lose money," said one silicomanganese producer. While domestic coking coal prices have begun to fall in the past two days, a producer noted that the alloy market would experience a delayed effect from this.
Last week, most Chinese participants noted South32's offer of $9.25/dmtu CIF China for its 45-46% ores and Gabon 44% being offered at $9/dmtu CIF China. No new offers were heard, and no trades were heard.One Southeast Asian trader said that he heard that trades for 37% South African ore had been done at $8.20/dmtu CIF China.
One producer said that many sellers were not offering as many are watching for the next round of South32's offers for January. The market is also heard to be slow in China, added the producer. The producer added that despite this, one producer of Gabon 44% ore was heard to be attempting to offer a higher price of $9.30/dmtu CIF India. However, no trades were confirmed at this price.
Manganese ore is largely imported by China from producing countries and resold at Chinese ports to manganese alloy plants.
