According to preliminary custom data, South Africa Manganese Ore export witnessed a substantial decline of 26% to 1.01 MnT in Jan’17 as compared to the previous month. In Dec’16 the South African Manganese Ore stood at 1.4 MnT.
However on yearly basis, South African Manganese Ore exports are up by 93% in Jan’17 against 0.53 MnT in Jan’16.
It has also been seen that Port Elizabeth is the primary port for exporting Manganese Ore followed by Saldanha Bay and Durban.
In CY16 South Africa shipped 12.45 MnT of Manganese Ore, up 11% against 11.17 MnT in CY15.
China’s Manganese Ore Imports
China stands out to be the largest importer of South African manganese ore which imported 0.67 MnT in Jan’17 is followed by India, Japan, South Korea and Norway among others.
China had imported sufficient Managanese Ore beforehand to last them till Jan’17 and even witnessed less working days during their Lunar Year holidays. Their requirement of Manganese Ore in Jan’17 were substantially lower on account of Chinese New Year.
Manganese Ore Prices
Manganese ore prices continued to move lower amid subdued Chinese demand as the port stocks in China are substantially high. Current offers for 37% Manganese Ore are at USD 2.6/dmtu FOB South Africa.
Market participants reported limited spot business as most said they thought prices would drop further.
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