manganese prices stabilizing

At last we are seeing some stabilization in manganese pricing, stocks at Chinese ports are down to 3.6 million tons, so there is the possibility that we've seen a bottom of pricing, since stocks have dropped about 400,000 tons over the past month this should see prices stabilize and if stocks drop further we could see some uplift in Mn pricing.


Price Of Mn-Ore For July 2011 Shipment To China Remains Unchanged
= BHP Billiton Sells Lumpy Ore With Mn 46% As New Grade
The price of manganese ore to be sold by major manganese mines to China for July 2011 shipment has remained as unchanged from that for June shipment. The negotiations between major manganese mines and Chinese consumers on the subject as mentioned above have been mostly settled by the end of last week and, consequently, the price for July shipment has been rolled over from that for June shipment. The total quantity of manganese ore contracted with Chinese consumers for July shipment is supposed to be on a scale of 200,000 tons.

In the course of 2011, major manganese mines had already reduced considerably by twice their price of manganese ore for sales to China in both shipments of March and May, and this settlement of price for July shipment has continued to remain on the same level for 3 months. The price of manganese ore for China is now moving to be stabilized. Therefore, the price of lumpy manganese ore with Mn 44% as a typical grade for China has been fixed at US$5.30 per Mn 1% CIF for July shipment.

According to an information from the market, among manganese ores produced at Groote Eylandt Mine of Australia, BHP Billiton has launched to sell new grade of lumpy manganese ore with Mn 46% (GEMCO Lump = GL) and the price of this new grade ore to be sold to China is US$5.50 per Mn 1% CIF.