Manganese ore oversupply, low demand lead to price plunge

Softening demand and ample availability caused manganese ore suppliers to cut their offer prices on Friday October 18.

Many ore buyers in China held back from the market in anticipation of prices softening further in coming weeks after miners lowered their offer prices for November-delivery cargoes. This weighed heavily on high- and low-grade seaborne manganese prices and limited the volume of sales. Fastmarkets’ manganese ore index 37% Mn, cif Tianjin dropped 24 cents to $4.17 per dry metric tonne unit on Friday. Fastmarkets’ corresponding assessment for manganese ore 37% Mn, fob Port Elizabeth fell by 29 cents week on week to $3.30 per dmtu. This was the lowest since March 20, 2017 when it was $2.90 per dmtu. Meanwhile, Fastmarkets’ manganese ore 44% Mn, cif Tianjin plunged 31 cents to $4.52 per...

Published

Jon Stibbs

Amy Lv

October 21, 2019

17:06 GMT

London, Shanghai