Seaborne manganese ore prices drift lower amid bearish expectations on August SiMn tender

Bearish expectations for the purchase price of August-delivery silico-manganese from Hebei Steel, China’s second-largest steel mill, weighed on the upstream ore market and put seaborne manganese ore prices under pressure, market sources told Fastmarkets.

Both low- and high-grade seaborne manganese ore prices in China drifted lower in the week to Friday July 24, despite limited liquidity after miners sold out their August volumes in previous weeks.
Fastmarkets’ manganese ore index 37% Mn, cif Tianjin was calculated at $3.78 per dry metric tonne unit (dmtu) on Friday, down 2.3% from $3.87 per dmtu a week ago.
Fastmarkets’ corresponding manganese ore index 37% Mn, fob Port Elizabeth fell by 3.4% week on week to $3.11 per dmtu from $3.22 per dmtu.

Fastmarkets’ manganese ore index 44% Mn, cif Tianjin was calculated at $4.09 per dmtu on July 24, down by...

Published

Charlotte Radford

Amy Lv

July 27, 2020

12:15 GMT

Shanghai, London