MANGANESE ORE at US$8.90/dmtu for April 2018 shipment is unbelievable, up more than 13% since March shipment.
Currently the only two ASX listed manganese ore producers are S32 and OMH who are benefiting from this fantastic prices. The only other Mn ore producer currently not listed is Jupiter via a 49% stake in SA Tshipi.
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South32's Price of Mn Ore for China as April Shipment Continues Rising
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= Price of lump ore with Mn being 46% is US$8.90 per dmtu =
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South 32, a subsidiary of BHP Billiton Limited (BHPB) has this time submitted its offer price of Australian manganese ore lump with Mn being 46% (GEMCO grade) as April 2018 shipment meant for China at US$8.90 per dmtu per 1% of Mn, which is up by US$1.07 from March shipment. (Hereinafter, the price is per 1% of Mn per dmtu)As to the prices of manganese ores submitted by other mining companies as April shipment meant for China, UMK, South Africa submits the price of manganese ore lump with Mn being 36% at US$7.85 (up by US$0.85 from the prior month) and Tshipi Mine in South Africa submits the price of manganese ore lump with Mn being 36% as May shipment at US$8.25 (Price for March shipment: US$7.00). Besides, the latest information shows UMK contracted manganese ore with Mn being 36% as May shipment at US$8.25.In China, the retail price of imported manganese ore continues rising for such reasons as (1) Port stock of imported manganese ore has been at a low level since entering this year, (2) Price of silico manganese continues rising after Chinese New Year ended, (3) Crude steel production is expected to make a recovery from April onward, and the consumption of manganese-containing ferroalloys is expected to go up and (4) Production of manganese-containing ferroalloys is expected to increase from April onward, and the current situation allows overseas manganese mines to offer an aggressive price. For reference, the port stock of imported manganese ore in China made a recovery to about 2.09 million tons at the end of last week.
OMH Price at posting:
$1.27 Sentiment: Buy Disclosure: Held
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