Better-than-expected buying interest halts seaborne manganese ore price decline

Seaborne prices of both low- and high-grade manganese ore in China ticked up on Friday July 31 - the first rise following 11 weeks of uninterrupted price falls - after some miners ceased compromising on offers for September shipments partly due to decent buying appetite.

Fastmarkets’ manganese ore index 37% Mn, cif Tianjin settled at $3.79 per dry metric tonne unit (dmtu) on July 31, up by 1 cent or 0.3% from $3.78 per dmtu a week ago. Prior to this, the index had fallen by 44.3% from the multi-month high of $6.79 per dmtu on April 24.
Fastmarkets' corresponding manganese ore index 37% Mn, fob Port Elizabeth rose to $3.13 per dmtu on the same day, up by 2 cents or 0.6% from $3.11 per dmtu on July 24 when it had fallen by 50.7% since April 24’s multi-month high of $6.31 per dmtu.

Fastmarkets’ manganese ore index 44% Mn, cif Tianjin was calculated at $4.13 per dmtu on July 31, up by 4 cents or 1% from $4.09 per dmtu on July...

Published

Charlotte Radford

Amy Lv

August 03, 2020

14:16 GMT

Shanghai, London