Fastmarkets’ manganese ore index, 37% Mn, cif Tianjin
was $4.27 per dry metric tonne unit (dmtu) on September 25, down by 2 cents, or 0.5%, from $4.29 per dmtu the prior week.
Fastmarkets’ corresponding manganese ore index, 37% Mn, fob Port Elizabeth
nudged up by 1 cent, or 0.3%, to $3.58 per dmtu on the same day, from $3.57 per dmtu the week before.
The price of seaborne low-grade ore continued to trend down for the second consecutive week while the weak market sentiment prevailed over the pricing session, Fastmarkets heard.
“We’ll only consider building positions when the price [of seaborne low-grade ore] sit at around $4.15-4.20 per dmtu. It’s relatively safe to buy seaborne cargoes when their prices are cheaper than portside ones,” a Chinese ore trader said.
Prices were already...