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| HOME >> Topics List >> August, 2009 >> 24 (Mon) |
| Mn-Ore Price For October Shipment To China Is Offered At US$4.50 As Moderate Level |
| = A Major Australian Mine, Power To Rise Steeply Ore Price Has Been Poured By Cold Water |
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The price of manganese ore (medium grade lumpy ore with Mn 44%) to be imported into China has continued to rise but a basic tone to rise price of manganese ore for China seems to have been braked. A major Australian mine has recently offered regular consumers in China (concluded yearly contract on quantity) medium grade manganese ore at US$4.50 per Mn 1% CIF for October shipment and this price is a comparatively moderate level. However, in anticipation of a further rise of price for manganese ore in the near future, Chinese side has been strongly interested in purchases of manganese ore and it is said that suppliers of Australian manganese ore have already sold out the cargoes for October shipment. For a reference, the price of Australian manganese ore contracted for shipments in July to August is supposed to be US$3.50 per Mn 1% CIF China. Spot price of manganese ore in China has sensitively reacted to this movement in last week. Spot cargoes of medium grade manganese ore have been contracted at US$7.50 per Mn 1% CIF China and, in spite of a scarcity of actual cargoes, only price of manganese ore had once risen to a level of US$8 but this high price level has been cooled down by falling. The price of US$4.50 offered recently by a major Australian mine is thought to have put a certain influence on price of manganese ore for China. A bullish view for steel production in China is moving to change. Prices of steel products have fallen and a tempo to increase steel production is being adjusted. An anxiety to tighten the financial situation in China has caused to fall stock prices at Shanghai Stock Exchange and the circumstances surrounding steel industry in China are shaking. This aspect has reacted to prices of ferro-alloys. Domestic price of silico-manganese in China has fallen to CNY8,200 per ton in last week from CNY8,500 at a previous time. Market prices of ferro-alloys in China had once risen steeply but are now being rectified. However, the fundamentals on supply and demand of manganese ore are on a short-supply because of a substantial reduction in production of manganese ore implemented by major manganese mines. Even if a power to rise steeply price of manganese ore comes to a standstill for a while, a basic tone is firming up price of manganese ore. The reason is that some of medium and small producers of ferro-alloys in China have missed to book manganese ore for October shipment and are moving to purchase manganese ore from other sources. |
| last modified : Thu 27 Aug, 2009 [10:37] |
