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Price of imported manganese ore into China continues to rise
Source:www.ferroalloynet.com  Date:2009/9/3
        TEX reported that the price of manganese ore to be imported into China has continued to rise but a basic tone to rise price of manganese ore for China seems to have been braked. A major Australian mine has recently offered regular consumers in China medium grade manganese ore at USD 4.50 per Mn 1% CIF for October shipment and this price is a comparatively moderate level.

However, in anticipation of a further rise of price for manganese ore in the near future, Chinese side has been strongly interested in purchases of manganese ore and it is said that suppliers of Australian manganese ore have already sold out the cargoes for October shipment. For a reference, the price of Australian manganese ore contracted for shipments in July to August is supposed to be USD 3.50 per Mn 1% CIF China.

Spot price of manganese ore in China has sensitively reacted to this movement in last week. Spot cargoes of medium grade manganese ore have been contracted at USD 7.50 per Mn 1% CIF China and, in spite of a scarcity of actual cargoes, only price of manganese ore had once risen to a level of USD 8 but this high price level has been cooled down by falling. The price of USD 4.50 offered recently by a major Australian mine is thought to have put a certain influence on price of manganese ore for China.

However, the fundamentals on supply and demand of manganese ore are on a short-supply because of a substantial reduction in production of manganese ore implemented by major manganese mines. Even if a power to rise steeply price of manganese ore comes to a standstill for a while, a basic tone is firming up price of manganese ore. The reason is that some of medium and small producers of ferroalloys in China have missed to book manganese ore for October shipment and are moving to purchase manganese ore from other sources.
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