TEX reported that the international prices of manganese ores had bottomed out in May to June of 2009 and have turned to recover on a basic tone mainly in China but, on the occasion that China has shifted to reduce their production of crude steel from September, a trend to rise further prices of manganese ores is thought to be reaching the phase to make a pause.
Accordingly, China is supposed to have a large possibility to move to reduce their production of ferroalloys and there is a strong view in the market that prices of manganese ores are now approaching a sort of the opportunity to change. Major manganese mines in the world have endeavored to rise price of manganese ore for shipments to large consumers of China in this year but the ore prices settled with Chinese customers for shipment in 2009 are various at present.
The price of manganese ore for China had risen remarkably on a straight way from summer of this year but this tendency seems to have made a pause at this moment. A major mine offered lumpy manganese ore with Mn 44% at USD 6.50 per Mn 1% CIF China for shipments in November to December of 2009 and this price has been accepted by Chinese consumers but, on the other hand, B major mine has been resisted by Chinese side to agree to conclude contracts at this price level.
The price of Chinese silico manganese offered for export is USD 1,350 per tonne CIF Japan at present, indicating a weak tone, and has inclined to fall as reflected a discounted price of Indian silicomanganese. Japan imported 3,598 tonnes of silicomanganese from China and 5,605 tonnes from India in September of this year, and the quantity of Indian product exceeded that of Chinese product.
(Sourced from TEX Report Limited)
