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Ferro-Alloys.Com: The price of Manganese ore in spot market of China went down sharply today, price transacted at RMB38/dtmu in Tianjin port, decreased by 10yuan/dmtu than yesterday. One of the Silicon manganese trader, who is the big distributor in North China told

ferro-alloys.com that the price of SiMn also went down to RMB6300/mt exw against cash payment, and RMB6400/mt exw against long term payment cheque. which it is 300yuan/mt decreased, due to big drop of Manganese ore in spot market. Another SiMN producer also

concessed this drop,but they have ordered Mn ore from future market and cargo has not arrived yet. but he also confirmed Mn ore was dropped in spot market and that will make them to lose when ordered cargo arrive; Carbonate Managnese ore was transancted at 38yuan/dmtu with 30000mt in Tianjin Port today, this transaction was told by another big trader,who also commented that the price of Mn ore will drop further due to hugh supply in coming weeks.there are three vessels of Manganese ore will arrive to China in coming weeks, 

according to insder information ,there are 150000Mt of Mn ore from Australia, 350000mt Mn ore from South Africa, 190000mt from Cabon,70000mt from Brazil, and 45000mt from other source,total 810000mt Mn ore will arrive to Chinese port, which will make huge inventory and push high pressure to the price. On the other hand, SiMn Pirce  of Sept. transaction also dropped by 220yuan/mt in Future market today. All these senerio make Manganese ore owners worried about the market, and some of them led to decrease the price to sell. This Trend will make  the price of Mn ore go down further in coming weeks.

• [Editor:admin]