Manganese ore sales could falter while coronavirus tightens cashflow downstream

Manganese ore suppliers could struggle to place seaborne volumes for April and May delivery due to tight cashflow in China amid sluggish sales of silico-manganese since the outbreak of the novel coronavirus (2019-nCov), market sources said.

Manganese ore prices have been falling since February amid lower demand and rising stocks, exacerbated by the outbreak.
Fastmarkets’ manganese ore index, 37% Mn, cif Tianjin was calculated at $4.11 per dry metric tonne unit (dmtu) on Friday March 6, down 21 cents per dmtu week on week.
Manganese alloy smelters in China are warning that due to slumping sales of their own product, they will have difficulty raising enough cash to put down deposits on cargoes of fresh ore.

This means smelters will either be unable to buy...


Janie Davies

March 11, 2020

13:40 GMT