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Manganese ores prices for November shipment to China reduced

Steel News - Published on Mon, 01 Nov 2010

TEX reported that the prices of manganese ores to be shipped to China in November 2010 are supposed to have been reduced.

According to information from the well known persons concerned, major manganese mines in overseas countries have reduced their price to USD 6.5 per Mn 1% CIF China for lumpy manganese ore with Mn 44%, as a typical grade ore, to be shipped to China in November 2010. Following this tide, prices of other manganese ores for China have been reduced for November 2010 shipment.

The price of lumpy manganese ore with Mn 44% settled with China for shipment in January of 2010 was USD 6.5 per Mn 1% CIF and therefore, the price for November has returned to the same one as that for January. The central government of China is anticipated to apply to a severity for supply of electricity in November to December and, consequently, the quantities of manganese ferroalloys to be produced hereafter in China are forecasted to decrease considerably.

It was informed that new prices of manganese ores applied to November shipment to China are pebble ore with Mn 42% = USD 6 (compared to USD 6.4 settled for October), lumpy ore with Mn 44% = USD 6.50 (USD 7.2 for October), fine ore with Mn 48% = USD 6.6 (USD 7.5 for October) and lumpy ore with Mn 49% = USD 6.95 (unknown for October).

The negotiations with ferroalloy producers in China on prices of manganese ores for November shipment had delayed to settle, since Chinese side requested to reduce the prices, but major manganese mines finally proposed a reduction of the prices and the negotiations are thought to have had a certain progress as mentioned above.

However, the reason, why major manganese mines have determined to reduce their prices of manganese ores, is said to have been caused by the sales at discounted prices as committed by manganese mines in South Africa and Brazil, and there is a strong opinion in China from the beginning of October that the prices of manganese ores to be settled for November 2010 shipment will be reduced.

(Sourced from TEX Report Limited)

Posted By : admin on Mon, 01 Nov 2010
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