GLOBAL MANGANESE WRAP: Low-grade ore markets dip as participants retreat on price risk fears in China

Market participants held back on trading low-grade manganese ore on fears of further price drops in the run-up to year end, Fastmarkets learned in the latest pricing session in the week ended Friday November 30.

Low-grade ore prices slide in China  High-grade ore price inches up on stock-building activity  Chinese physical manganese alloy price holds in spite of futures drop  Indian alloy prices weaken  European, US alloy prices largely stable Low-grade manganese ore prices dropped in China on Friday due to buyers fearing price risk ahead of year end. Fastmarkets MB’s 37% manganese ore index, cif China declined 8 cents week on week to $6.76 per dry metric tonne unit. The 37% manganese ore index fob Port Elizabeth followed suit, slumping 10 cents or 1.7% in the week to $5.94 per dmtu. Conversely, the 44% manganese ore index, cif Tianjin inched up 1 cent week on week to $7.18 per dmtu on Friday. Trading in 44% ore picked up in response to fresh producer offers, which were at the same levels as last month. A number of buyers sought material to last until late...

Published

Janie Davies

Chris Kavanagh

Declan Conway

Karen Ng

December 04, 2018

13:49 GMT

London, New York, Galway, New York