According to a source in China, BHP Billiton indicated a rollover in the prices for its January shipments to China of manganese ores, keeping the prices unchanged since October 2012, despite some forecasts of early November that the prices would rise for January shipments.
The indicated prices for January shipments are the same as those for December shipments ie
1. GEMCO grade (Lumps, Mn: 46%): USD 5.20/mtu
2. Metallurgical fines (Mn: 48%): USD 4.75/mtu
3. South African low grade (Mn: 38 - 40%): USD 4.70/mtu.
The quayside stocks of the ores at major ports in China declined to 2.282 million tonnes as of December 3, down from 2.337 million tonnes reported a week before, mainly because consumers tend to increase purchase of ores usually at the month end. The slight upward trend in the ferroalloy prices in late November also helped with the decrease. Although the importers' stock level is still high, some market watchers say declining arrivals of ores in the recent days may push the ore prices slightly up in the near future.
