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Manganese ore prices to China remain sickly despite healthier steel margins

  While steel prices have been healthy, market sources say manganese ore prices to China will continue to be sickly until steel production increases. S&P Global Platts assessed 44% ores flat from last week at $4.60/dmtu CIF Tianjin Friday, as buyers awaited new offers from high grade ore producers. 

  37% manganese ores slipped to $3.20/dmtu CIF China Friday from $3.50/dmtu CIF China last week as new offers emerged. 

  Chinese traders and end users said they heard a range of offers for South African 37% ore at $3-$3.30/dmtu CIF China. Two traders said they heard that Australian material had sold out, and were awaiting the next offer by S32 to understand market levels. 

  One South African producer said that he had offered at $3.30/dmtu, CIF China, and said that he had done a deal for a small shipment for 14,000 mt at $3.25/dmtu, CIF China, early March laycan. The counterparty could not be confirmed. 

  Sources estimated total port stocks in China to be at 3.3 million mt this week. 

  China imported 1.97 million mt of manganese ore and concentrate in January, up 81.5% year on year, according to the latest monthly statistics published by the General Administration of Customs Thursday. However, compared with December, imports fell 2%. 

  For 2016, China's manganese ore and concentrate imports totaled 17.05 million mt and averaged 1.42 million mt/month.



Contact: Happy Wang