The prices of Manganese Ore dropping furhter

Ferro-Alloys.com Reports：It is reported that the prices of Manganese ore both at spot market of China and future delivery in October, are going down. According to vendor and buyers reported information.,transacted prices at spot market for semi-carbonated Ore 36% lumpy grade at 42yuan/dmtu, dropped from 43yuan/dmtu; Transacted prices for Oct delivery,major Miners reduced their prices at second round offer, i.e South32, transacted price for 44.5% lumpy（new standard) at usd5.41/dmtu; 43%chips grade at usd5.21/dmtu; CML 46% lumpy grade at usd5.60/dmtu; Comilog transacted some @ price at usd5.14/dmtu(first round offer usd5.55/dmtu), Some traders reported, they already offered 5usd/dmtu cif China, only aound 50% concluded at above level. Another major Miner, Tshipi mining, also has unsold cargo in Oct shipment, bid at usd4.77/dmtu (some transacted around 5usd before drop).But compareing sinter Mn 44% grade, only 4.7usd/dmtu, this price level is hard to be accepted by Smelters.

Chinese Stock Volume rising up to 2.64million tons in Tianjin port (North China) and 1.05 million tons at Qingzhou Port(South China). and other ports around 300000mt, total 4.0 million tons stock.

 Market Treand Prediction: The price of Manganese ore is not only going down, but also Silicon Manganese , Producers of Alloys are very negative about future market, and traders of Manganese ore are very afraid of market. Major customers predict that the price will go down futhre in 4Q, effected and based on Economy worse situation, less demands from Steel, and over supply from Suppliers. Perhaps "Bear market" is coming...

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