Seaborne manganese ore prices consolidate as market awaits direction

Seaborne prices for low-grade and high-grade manganese ore in China consolidated in the week to Friday August 28, with market participants awaiting direction from offers for October shipments and the release of the purchase price for September-delivery silico-manganese from Hebei Steel - China’s second-largest steel mill - market sources told Fastmarkets.

Fastmarkets’ manganese ore index 37% Mn, cif Tianjin was at $4.07 per dry metric tonne unit (dmtu) on August 28, down by 1 cent (0.2%) from $4.08 per dmtu on August 21.
Fastmarkets' corresponding manganese ore index 37% Mn, fob Port Elizabeth nudged up to $3.34 per dmtu on August 28, from $3.33 per dmtu a week earlier, as a result of a fall in the freight rate.
Fastmarkets’ manganese ore index 44% Mn, cif Tianjin was calculated at $4.24 per dmtu on August 28, up by 3 cents (0.7%) from $4.21 per dmtu a week earlier after volumes of high-grade cargoes were successfully concluded at higher-than-expected levels.
The seaborne market remained relatively quiet, with many major miners yet to make offers for October shipments. Many market participants took a wait-and-see approach as a result.



Amy Lv

August 31, 2020

16:26 GMT