Subdued buying, ample supply push seaborne manganese ore prices down further

Seaborne prices for both low and high-grade manganese ore in China continued to trend downward in the latest assessment on Friday June 12 after miners lowered their offers for July-delivery cargoes further in response to a lack of buying interest among Chinese traders and alloy smelters as well as relatively ample supply.

Fastmarkets’ manganese ore index, 37% Mn, cif Tianjin fell to $4.85 per dry metric tonne unit (dmtu) on Friday, down by 36 cents or 6.9% from $5.21 per dmtu on June 5.
The manganese ore index, 37% Mn, fob Port Elizabeth dropped by 43 cents or 9.2% to $4.24 per dmtu on the same day, from $4.67 per dmtu on June 5.
And Fastmarkets calculated the manganese ore index, 44% Mn, cif Tianjin at $5.22 per dmtu on June 12, down by 33 cents or 5.9% from $5.55 per dmtu on June 5.

Many Chinese domestic buyers eventually placed orders for July-delivery cargoes after miners compromised further on offers in response to thin buying interest in...


Jon Stibbs

Amy Lv

June 15, 2020

15:58 GMT

Shanghai, London