Seaborne manganese ore prices find support from strengthening portside market

Seaborne prices of both high- and low-grade manganese ore in China continued to trend upward in the week ended December 20 in response to the continued rises seen in the portside ore market in recent weeks.

Fastmarkets’ manganese ore index 37% Mn, cif Tianjin, index ticked up by 3 cents week on week $3.78 per dmtu. 
Fastmarkets’ manganese ore 37% Mn, fob Port Elizabeth, index rose 5 cents week on week to $3.09 per dmtu on the same day. 
Meanwhile, Fastmarkets’ manganese ore 44% Mn, cif Tianjin, index inched up by 2 cents week on week to $3.89 per dmtu. 
The seaborne market was relatively quiet in the past week as miners had already sold off their January-delivery cargoes in the previous weeks, and most market participants are now waiting for miners’ release of offer prices for February-delivery material, according to market participants.

“We expect several miners to make offers for February-delivery cargoes ahead...

Published

Jon Stibbs

Amy Lv

December 23, 2019

08:25 GMT

Shanghai, London