Weak demand and high stocks weigh on China’s manganese ore market

Seaborne prices of both high- and low-grade manganese ore in China moved lower for the second consecutive week in the week ended Friday March 6 due to persistently weakening sentiment.

Fastmarkets’ manganese ore index, 37% Mn, cif Tianjin, was calculated at $4.11 per dry metric tonne unit (dmtu) on Friday, down by 21 cents per dmtu or 4.9% week on week from $4.32 per dmtu.
The corresponding index for manganese ore 37% Mn, fob Port Elizabeth, dropped by 22 cents per dmtu or 6% week on week to $3.46 per dmtu from $3.68 per dmtu.
Fastmarkets’ index for manganese ore 44% Mn, cif Tianjin, was $4.48 per dmtu on March 6, down by 13 cents per dmtu or 2.8% week on week from $4.61 per dmtu.
“There is less availability of higher-grade ore, so the fall in offer prices has been slower,” a producer said.

Seaborne prices of both grades...

Published

Jon Stibbs

Amy Lv

March 09, 2020

16:32 GMT

London, Shanghai