Lower-grade manganese ore prices get stronger, higher grade dips

Seaborne manganese ore prices in China moved in opposing directions for different grades in the week ending Friday January 10, with low-grade ore showing further minor rises, while high-grade ore softened amid falls in portside prices.

Fastmarkets’ manganese ore index 37% Mn, cif Tianjin, climbed week on week to $4.18 per dry metric tonne unit (dmtu) on January 10, up by 5 cents per dmtu.
The corresponding index for manganese ore 37% Mn, fob Port Elizabeth, nudged upward by 2 cents per dmtu week on week to $3.46 per dmtu on the same day.
Some miners of such low-grade ores have sold remaining volumes for February delivery at a higher price over the past week.
“We intended to place orders [for 37% material] at less than $4.40 per dmtu, but miners were quite resolute in not compromising, so we had to accept $4.40 per dmtu in the end,” a buyer source in China said.

Producers reported continuing buying interest...

Published

Jon Stibbs

Amy Lv

January 13, 2020

17:27 GMT

London, Shanghai