GLOBAL MANGANESE WRAP: Seaborne ore trading picks up after miners cut offer prices

Trading activity in the seaborne manganese ore market was boosted by lower offer prices in the week ended Friday December 14.

Ore prices drop as much as 8% Alloy prices weaken in China, India Alloy prices flat in Europe US market sees limited spot trading activity Prices weakened across China’s manganese market on December 14, after miners cut offer prices, prompting an increase in seaborne ore trades. Fastmarkets’ 37% manganese ore index, fob Port Elizabeth, dropped by 53 cents to $5.50 per dry metric tonne unit (dmtu) on December 14. Fastmarkets’ 37% manganese ore index, cif Tianjin, dropped 51 cents to $6.22 per dmtu. Fastmarkets’ 44% manganese ore index, cif Tianjin, eased 29 cents to $6.91 per dmtu. A number of miners lowered their offer prices to secure sales before the end of the year, boosting trading activity and volumes. “I anticipate December and the start of January will be soft but I don’t expect it [low grade] will fall much below $6.20 per lb,” a manganese ore...

Published

Janie Davies

Chris Kavanagh

Declan Conway

Karen Ng

Jon Stibbs

December 18, 2018

07:00 GMT

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