GLOBAL MANGANESE WRAP: Ore prices in China dip on weak port prices, rising inventory; SiMn prices broadly down

Seaborne low-grade manganese ore prices continued to trend downward last week amid relatively low trading prices and Chinese buyers’ reduced appetite for the material, while declining port prices dragged the high-grade ore market down.

Seaborne low-grade and high-grade manganese ore prices drop. Silico-manganese prices edge down in China. Indian silico-manganese prices narrow downward. Both ferro-manganese and silico-manganese prices slide in Europe. US alloys prices unchanged. Seaborne low-grade manganese ore prices fell for a second consecutive week on Friday August 2 amid relatively low trading prices concluded for September-delivery cargoes. Fastmarkets’ manganese ore index 37% Mn, cif Tianjin dropped by 12 cents week on week to $5.39 per dry metric tonne unit (dmtu) on August 2. Fastmarkets’ manganese ore index 37% Mn, fob Port Elizabeth fell by 5 cents over the same comparison to $4.64 per dmtu. Some low-grade ore producers lowered their offer prices to secure business for September-delivery cargoes after noticing that buyers in China were resistant to initial offers and gave aggressive counter-bids instead, according to market participants. “There has been a slight softening in the market for material...

Published

Chris Kavanagh

Declan Conway

Jon Stibbs

Amy Lv

August 06, 2019

09:10 GMT

London, New York, Galway, Shanghai