Manganese ore market is consistently facing a price decline from past few days owing to low demand from the manganese smelters and the buyers in the metal market worldwide.
On Wednesday, July 3, 2013, the price for 44% manganese ore was at $5.53/dry MnT CIF Tianjin, which was less by 4 cents from Tuesday, July 2, 2013. In Asia, manganese ore prices are witnessing a continuous decline and low demand as weak sentiment weighed on negotiations.
A purchaser based at China said that he has heard that Gabon 44% less ore are offered at $5.40/dmtu and offer of Australian 45% ore is at $5.95/dmtu. He also said that the market is very slow and standstill at present and he has not heard of any deals being concluded in the week of July 1, 2013-July 7, 2013.
Whereas, on the other hand, a seller said that this week it was very difficult for him to sell the material in Chinese market in the rate same as that of the previous week. He also said that in spite of the demand from the market the sale is les because the buyers are looking for cheaper prices. He further said that the credit restrictions are not affecting the sales but still the prices are declining in the market.
A buyer based at India says that the smelters are not purchasing the manganese alloys even if it is of high grade as they are expecting further price decline owing to the continuing weak prices in European market for manganese ore. “Nobody is buying unless they really have to,” he said.
However, the smelter based at India says that price for 38% South African ore are even lesser. “Carbonate ore is under tremendous pressure. There are lots of suppliers with lots of cargo and they are reducing prices,” he said. Brazilian 44% ore is being offered at around $5.20/dmtu.