Seaborne manganese ore prices lose lockdown-led gains on higher-than-expected supply

Low- and high-grade manganese ore prices in the Chinese seaborne market continued to trend down on Friday July 10, after some miners lowered their offers for August-delivery cargoes amid relatively abundant supply and aggressive bids despite some resumed buying interest.

Chinese seaborne manganese ore prices have almost given up all gains achieved since late March when South Africa implemented a nationwide lockdown aimed at curbing the spread of the Covid-19 virus and raised widespread concerns over supply shortage at that time.
Fastmarkets’ manganese ore index 37% Mn, cif Tianjin stood at $4.01 per dry metric tonne unit (dmtu) on July 10, down by 20 cents or 4.8% from $4.21 per dmtu a week earlier. The latest index is down 41% from the multi-month high of $6.79 per dmtu on April 24.

The manganese ore index 37% Mn, fob Port Elizabeth settled at $3.36 per dmtu, down by 23 cents or 6.4% from $3.59 per...

Published

Charlotte Radford

Amy Lv

July 13, 2020

12:43 GMT

London, Shanghai