High consumption to support Mn ore market

摘要

In early July, traders at Chinese ports attempted to raise Mn ore prices by RMB 1-2/dmtu on positive dynamics of SiMn futures on the Zhengzhou Commodity Exchange in late June. Besides, traders were referring to higher SiMn quotes in the physical market for SiMn in early July. Re-sellers were also supported by an accelerated depreciation of the Chinese yuan (lost almost 1 over the week). However, SiMn quotes rolled back by RMB 200-300/t in the physical and stock markets in mid-July on higher supply. As a result, Mn ore re-sellers also had to back down. Nevertheless, Mn ore average price at Chinese ports was 5 higher compared to last month's level by the time of the report's publication.