GLOBAL MANGANESE WRAP: Manganese ore prices in China fall amid lower offers, ample stocks; Chinese alloys market stable

Record high ore inventories and some lower offer prices weighed on the manganese ore market in China over the week ended Friday May 17.

Seaborne, port prices of manganese ore fall in China Alloys markets unmoved in China, Europe Silico-manganese prices dip in India Alloys prices in the United States little changed Prices for seaborne manganese ore to China fell last week after some sellers lowered their offer prices to secure business amid rising inventories. Spot liquidity was strong with several producers offering material in the market following two weeks of relatively quiet trading. Chinese buyers made aggressive counter-bids to producers’ offers. Buyers had been hesitant to commit to purchasing June deliveries in the gloomy domestic Chinese market, according to sources. Fastmarkets’ 37% manganese ore index, cif Tianjin, dropped 7 cents week on week to $5.75 per dry metric tonne unit (dmtu) on May 17. Fastmarkets’ 37% manganese ore index, fob Port Elizabeth, fell 11 cents to $5.05 per dmtu over the same comparison. Meanwhile, Fastmarkets’ 44% manganese ore index, cif Tianjin, was calculated at...

Published

Janie Davies

Chris Kavanagh

Susan Zou

Declan Conway

Jon Stibbs

May 21, 2019

03:45 GMT

London, Shanghai, Galway, New York