High-grade manganese ore vols on offer fall, index rises

The seaborne price of high-grade manganese ore in China rose for the third consecutive week in the week ended February 21 after deals were successfully concluded at a higher level amid limited availability of cargoes for shipment in March.

Fastmarkets’ index for manganese ore 44% Mn, cif Tianjin climbed to $4.70 per dry metric tonne unit (dmtu) on February 21, up by 14 cents per dmtu week on week.
“The volume [of March-delivery high-grade manganese ore] we have been offered is quite limited, far less than what we could typically secure,” a Chinese ore trader said.
Despite some ore traders placing orders over the last week, several market participants remained hesitant about whether to take cargoes.

“We eventually decided to accept the price this time, though it is a bit high and even more expensive than portside ore...

Published

Jon Stibbs

Amy Lv

February 24, 2020

16:15 GMT

London, Shanghai