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| Manganese Ore Price For Shipments To Nippon Steel In Q2 / 09 Has Been Settled |
| = Supposed To Be US$4.80 Per Mn 1% FOB For High Grade Ore |
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Nippon Steel clarified on the 13th of April that the negotiation with BHP Billiton on price of high grade lumpy manganese ore (with Mn 48% base) for shipments in the second quarter (April - June) of 2009 has been settled. Nippon Steel did not mention about the price but, according to an information in last week from the manganese ore industry of Japan, the price of high grade for this quarter is supposed to have been settled on a level of US$4.80 per Mn 1% FOB. However, it is said that any arrangement on price of manganese ore for shipments from July of 2009 and afterwards was not made, and, reflecting a considerable change of price for manganese ore, the system to fix price of manganese ore is moving to settle on quarterly base. In view of a global trend for price of manganese ore (price of low grade manganese ore is falling to a large extent), it is anticipated to be inevitable to fall further price of manganese ore for shipments in July - September quarter and, from this point of view, it is thought to be the background to pass the price fixation for shipments from July and afterwards, For a reference, China is a major country to import manganese ore and the prices of high grade manganese ore contracted between major manganese mines and Chinese consumers for shipments in March - June of 2009 are on a level of US$6.00 - 6.30 per Mn 1% CIF China for lumpy ore with Mn 48% base. The theoretical price of Australian high grade manganese ore purchased by the Nippon steel Group for shipments in January - March quarter of 2009 is supposed to be US$16.59 per Mn 1% FOB and, in comparison with this price, the price settled for shipments in April - June quarter has had a considerable fall of 71%. |
| last modified : Fri 17 Apr, 2009 [10:36] |
