China portside manganese ore prices down further on weak buying

Portside manganese ore prices in China continued their downward trajectory for the fourth consecutive week in the week to Friday May 29, after some traders significantly cut offer prices to secure business amid aggressive bids from alloy smelters, sources said.

Fastmarkets’ manganese ore port index, base 37% Mn, range 35-39%, fot Tianjin, China was at 47 yuan ($6.58) per dry metric tonne unit (dmtu) (equivalent to $5.70 per dmtu, excluding value-added tax and port handling fees) on May 29, a drop of 3.40 yuan per dmtu from 50.40 yuan per dmtu a week before.
Fastmarkets' corresponding high-grade manganese ore port index, base 44% Mn, range 42-48%, fot Tianjin, China was calculated at 48.20 yuan per dmtu (equivalent to $5.82 per dmtu, excluding VAT and port handling fees) on May 29, a dip of 4 yuan per dmtu from 52.20 yuan per dmtu in the previous week.

Previously, several market participants believed that portside ore prices in China...

Published

Amy Lv

June 01, 2020

13:35 GMT

Shanghai