Although most enterprises are yet to be back to work after the Spring Festival, some factories have already started procurement and ore traders make offers. Prior to the festival, Manganese ore stockpiling is aimed to run out by around Feb08 and now the time for replenishing has come. However, transportation is hindered by the outbreak of the Coronavirus as well as an extended holiday is a bottleneck. Buyers will have to place an order first and wait until transportation of goods resumes.
Mainstream price for Manganese ore at Xingang port, Tianjin today: Australia lump at RMB42/dmtu (USD 42/dmtu), SOUTH AFRICAN lump at RMB37.5-38.5/dmtu (USD 5.37-5.52/dmtu), and Gabon lump at RMB39/dmtu (USD 5.59/dmtu).
Mainstream prices at South China’s Qinzhou port are Australia lump at RMB43-43.5/dmtu; South African lumps at RMB42/dmtu; Gabon lumps at RMB40-41/dmtu; short supply of Manganese ore at Qinzhou port still exists.
The stimulus behind the price hikes:
1. HBIS hiked alloy tender price for Feb notably with more quantity.
2. oversea offers of Manganese ore have been rising steadily with UMK marked up usd0.1/dmtu to usd4.5/dmtu March shipment to China.
3. Peak time procurement post-festival has come since most factories hold inventory only last to around Feb 08.
It is heard that a transaction was concluded of South African semi-carbonate 36-37% Manganese ore at Xingang port, Tianjin for 2500 MT at RMB 37.5/dmtu (USD 5.37/dmtu), which is RMB 0.5/dmtu higher than the deal tracked on Feb 01 for 3000MT at the same port.
In comparison, two transactional rates of Australia lump 44.5-45% at South China’s Qinzhou port was at RMB 43/dmtu (USD 6.16/dmtu) for 1000 MT and RMB 43.5/dmtu for 1000 MT, respectively while South African High Ferrous Manganese ore 30.5% Fe 20% at the same port is transacted at RMB 31/dmtu (USD 4.44/dmtu) for 1500 MT.
Leave a Reply