Manganese ore is in stalemate situation(17/04/2019)
CFO 17.04.2019: Due to repeated downstream pressure on manganese ore procurement, the spot price of manganese ore has been facing an inverted cost (South African semi-carbonate) situation. The willingness to offer for shipment of manganese miners had decreased considering the cost. And the transaction has been slightly deadlocked. Before the market became clearer, there are no sign of improvement and downstream pressure on manganese ore procurement.
However, as the situation of strong price reduction and weak demand of downstream purchasing , manganese ore suppliers choose to wait and see the closing price, waiting for the market to become clearer. Today, the port manganese ore offer has reduce. The situation of stalemate between the suppliers of manganese ore appears. Port manganese ore stocks are difficult to reduce, manganese ore supply is in a pressure state in stage. As a more stable downstream alloy start-up rate and alloy output, manganese ore demand still has a certain guarantee. As a result, futures prices are running at a high level, while spot markets need to pay attention to the changes in their demand groups.