Imported Mn ore price keeps slipping at Chinese ports

It is reported that imported manganese ore price continues drifting at Chinese ports today. As a matter of fact, the price was unstable last Friday and all Chinese traders start to adjust their prices.

Currently, Mn44.01% lump ore shipped from Brazil stands at CNY 36 per mtu to CNY 37 per mtu; Mn48.94% lump ore from Gabon, at CNY 40 per mtu at Zhanjiang port. While, Brazilian Mn45% lump ore still posts at 38yuan/mtu. All the prices are to be adjusted today, according to relative principals.

The recent price change is impacted by the adjustment of offers from global ore miners as BHP has been rumored to rectify its export price since last Thursday. Although there is no official news on BHP's price cut, yet its Mn ore price has been actually reduced, analyst from Mysteel noted and the Australian origin Mn45% lump ore is expected to be cut by USD 4 per mtu by market resources.

At present, manganese ore inventory at Lianyungang port goes at around 0.11 million tonnes down by 0.01 million tonnes to 0.02 million tonnes; that at Qinzhou port, at 0.25 million tonnes a decrease of 0.05 million tonne to 0.06 million tonnes; that at Zhanjiang port at 0.15 million tonnes down by 0.02 million tonnes to 0.03 million tonnes which indicates the transactions turn to be better last week. – Mysteel.net