Chinese manganese ore market resumes its stable trend

Wednesday, 04 July 2012 15:56:40 (GMT+3)   |  
       

In the past week, the Chinese manganese ore market has resumed its stable trend, while inventory levels have showed little change from the previous week. The mainstream quotations of Australian lump ore with 44 percent Mn content currently stand at $6.35-6.5/dmtu at China's Tianjin port, while offers of South African origin lump ore of 44 percent Mn content are at $6.51/dmtu. Also at Tianjin port, quotations for 38 percent grade Mn ore from Australia are in the range of $6.03/dmtu, while offers of South African lump ore of 38 percent Mn content are at $6.11/dmtu.

Traders in China's manganese ore market have maintained a wait-and-see stance in the past week, while the trading volume has been slack. Both producers and traders lack optimism. Reductions in electricity charges in southern China have not helped to increase capacity utilization rates of local manganese alloy producers. Observers state that manganese ore inventory levels are stable now and that, without support from downstream demand, manganese ore prices in China may indicate some signs of softness in July.


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