China portside manganese ore continues decline despite resumed buying

Portside manganese ore prices in China continued to slide for the third consecutive week in the latest assessment on Friday May 22, after some ore traders trimmed offers further to encourage sales despite some resumed buying interest from domestic alloy smelters, sources said.

Fastmarkets’ manganese ore port index, base 37% Mn, range 35-39%, fot Tianjin, China was at 50.40 yuan ($7.06) per dry metric tonne unit (dmtu) (equivalent to $6.15 per dmtu, excluding value-added tax and port handling fees) on May 22, a drop of 1.40 yuan per dmtu from 51.80 yuan per dmtu previously.
Fastmarkets' corresponding high-grade manganese ore port index, base 44% Mn, range 42-48%, fot Tianjin, China was calculated at 52.20 yuan per dmtu (equivalent to $6.35 per dmtu, excluding VAT and port handling fees) on May 22, down by 1.90 yuan per dmtu in the same comparison.

A few ore traders cut...

Published

Amy Lv

May 26, 2020

10:22 GMT

Shanghai