Weak SiMn demand concerns undermine upstream manganese ore market

Seaborne prices for low-grade and high-grade manganese ore in China exhibited divergent trends in the week ended Friday February 14, with the former ticking down amid weakening sentiment, and the latter nudging up after business for March-delivery cargoes was concluded at higher prices.

Fastmarkets’ manganese ore index 37% Mn, cif Tianjin, edged down by 2 cents per dry metric tonne unit (dmtu) week on week to $4.46 per dmtu on February 14.
Fastmarkets’ manganese ore index 37% Mn, fob Port Elizabeth, dipped by 2 cents week on week to $3.83 per dmtu the same day.
Fastmarkets’ index for manganese ore 44% Mn, cif Tianjin, nudged up by 1 cent per dmtu week on week to $4.56 per dmtu on February 14.
Liquidity in the low-grade ore market was light last week because ore miners had already sold out their March-delivery cargoes in previous weeks.
But some high-grade ore miners made offers for March-delivery tonnages and successfully concluded deals.

Despite some buyers...

Published

Jon Stibbs

Amy Lv

February 17, 2020

10:27 GMT

Shanghai, London