Trader resistance, growing buying interest ease China portside manganese ore price falls

Resistance among some Chinese manganese ore traders to make further compromises on offer prices has prevented portside prices from falling significantly in the week to Friday July 24, market sources told Fastmarkets.

Fastmarkets’ manganese ore port index, base 37% Mn, range 35-39%, fot Tianjin, China was 34.60 yuan ($4.93) per dry metric tonne unit (dmtu) on Friday. This is equivalent to $4.24 per dmtu excluding value-added tax and port handling fees, and was down by 0.30 yuan per dmtu from 34.90 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 37 yuan per dmtu on the same day. This is equivalent to $4.53 per dmtu excluding VAT and port handling fees, a slight drop of 0.10 yuan per dmtu from 37.10 yuan per dmtu in the preceding week. ...

Published

Amy Lv

July 27, 2020

13:26 GMT

Shanghai