Manganese Ore weekly Analysis (April 2-7)

Ferro-alloys.com: Manganese ore in Chinese market during the first week of April, had new senerio that the price went up by 1usd/dmtu averagely than last month.

Just before Chinese Tomb Swapping Holiday ,Manganese ore Miners and suppliers already increased the price for April shipment. The reason is that silicon manganese price in April was increased by RMB1000/Mt(about usd145/mt),which it was result from HBIS tender price of RMB6900/mt deliver to steel plant, which it was 1000yuan/mt up than the price of March, with quantity 28800Mt for April , that is more 12800mt increased than last month.

From that change, Manganese ore suppliers believe the market of SiMn is about to go stronger, there is no reason for  them to decrease the price of manganese ore further.but from the side of silicon manganese , they have faced very hard situation, for they used high price of Mn ore since Feb and they would have lose hugely at the price of HBIS. Supliers from Inner Mongolia did not accept the price ,however, one big producer from Ningxia accepted the price confimed by HBIS ,and that means, they have budget to compensate this lose from other business. they only just want to sell the alloys.,Even other suppliers angried on that, but none can change this situation of supply surplus.

Manganese supplier of Australia increased their price to usd5.45/dmtu, South Africa Mn miners or suppliers increased their price to usd4.4/dmtu for semi- carbinated  Mn ore, Brazilian Mn ore offered usd4.6/dmtu for their Lumpy ore for shipment in April. Spot market of Mn ore in China, prices are now offered between 48-51/dmtu for different grades, which it is about 2yuan increased averagely.

Ferro-alloys.com view: Manganese ore price increased, but no transacted reported, SiMn price seems weak furhter,some traders said Price of SiMn is about to decrease further, even 6500RMB/mt concluded last week.

Along with that situation, how can manganese ore be sold ? who can buy Mn ore at this increased level comparing low price of SiMn ?

• [Editor:admin]