Manganese ore market continues to run a high price
14th July 2009: The price of imported manganese ore continues to run highly, and currently, the quote for the Australian ore mn 42 is still at a price of 50 yuan / (metric) ton unit. The mainstream ore of South Africa mn52 offers a little higher price of 47-48 yuan / (metric) ton unit. The actual port volume is not too much. On the other hand, the market is a bit chaotic because of the generally high prices reported from the major ports. Foreign miners responded immediately as hearing the news, and raised the buy-price. Presently the above two factors caused the dilemma for port traders in both purchase and sale.
A miner of Zhanjiang Port said that there are no goods now, and the time for the arriving goods is at the end of this month. As the port traders have raised the quotes, the buy-price also has upped a bit. Currently, the actual cost for South Africa mn32fe>20 is about 30-31 yuan /(metric) ton unit which leads to very limited profits for traders. On the other hand, manganese residual industry is still in difficulty. And there is no significant improvement in the price. A price of 33 yuan / (metric) ton unit of South Africa mainstream manganese ore with high iron content is high for many manganese residual factories. The miner of Zhanjiang Port said that whether they will sale or purchase, there are considerable pressures from such a price.
A miner of Lianyungang Port showed that he has no stock now. That miner said that though he hopes his ore could be sold at a good price at the position of a trader, but he also expressed his confusion on the irrationally rising price in manganese ore. The present transaction price for that miner’s Indonesia ore is about 42 yuan/ (metric) ton unit. He said that though many alloy factories have purchasing requirements, there are not many reached a deal as the alloy market prices are really low. That miner showed his worries about the present unstable situation of the port market, and said that he now has no plain to purchase as the buy-price is slightly increasing. The market professionals predicted that because the port spots are in a further tight situation, a high price situation for imported manganese ore will remain, and the price will unlikely drop in a short time.