Improved liquidity slows dive in 37% manganese ore indices

The seaborne low-grade manganese ore price in China continued to drop in the week ended Friday November 1, but buyers re-entered the market which producers took as a signal the market may be approaching its bottom after weeks of heavy falls.

Fastmarkets’ manganese ore index 37% Mn, cif Tianjin fell by 15 cents per dry metric tonne unit (dmtu) to $3.35 per dmtu on Friday, setting a new low since Fastmarkets launched the price in February 2018.  The manganese ore index 37% Mn, fob Port Elizabeth also dropped by 15 cents week on week to $2.55 per dmtu on the same day.  Ore traders restocked seaborne cargoes to take advantage of the low prices, according to market participants, with the increased market activity lending some support to the indices. “Although it’s likely that the price will continue to slide in the coming weeks, the move will be comparatively limited because the current price is relatively...

Published

Jon Stibbs

Amy Lv

November 04, 2019

15:45 GMT

London, Shanghai