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Print[Ferro-Alloys.com]Flat demand coupled with hefty supply aggravated worse performance of imported manganese ore spot market in China, resulting in RMB0.5/mtu fluctuation in the price of ore from last week.
Australian Mn46 lumps dropped to RMB30.5-31.5/mtu at ports in China. As for Mn48 sand ore, the price declined to RMB29.5-30.5/mtu in China. South African Mn38 lumps edged down to RMB27.5-28.5/mtu while RMB31-31.5/mtu for Mn32%Fe20%. Meanwhile, Gabonese Mn 45-46 lumps fell to RMB28.5-29.5/mtu at ports. Brazilian Mn 44-45% lumps pushed down to RMB 28-29 mtu in China.
In fact, continued downturn price of mainstream imported manganese ore also impacted on non-mainstream kind ore like Malaysian lump ore, high future price but poor sale already dampened purchase ethusansim of Chinese ore traders.
In short, expanding output of global giant miners but stall demand growth of Chinese steel would lead ore price to further on track to downrend in the future.
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- [Editor:Sophie]
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