China portside manganese ore prices at 11-month lows amid bearish sentiment

Portside prices for low- and high-grade manganese ore in China fell for the sixth consecutive week in the week to Friday October 23, partly as a result of traders lowering their offer prices to secure deals with domestic alloy smelters, market participants told Fastmarkets.

Both prices are at their lowest levels since November 8, 2019, when the low- and high-grade ore stood at 31.70 yuan ($4.73) per dry metric tonne unit (dmtu) and 33.80 yuan per dmtu respectively, according to Fastmarkets’ pricing archive.
Fastmarkets’ manganese ore port index, base 37% Mn, range 35-39%, fot Tianjin, China was 31.70 yuan per dmtu on Friday. This figure is equivalent to $4.05 per dmtu excluding value-added tax and port handling fees, and is down by 1.20 yuan per dmtu from 32.90 yuan per dmtu a week earlier.

The corresponding manganese ore port index, base 44% Mn, range 42-48%, fot Tianjin, China was 34 yuan per dmtu on the same day. This is equivalent to $4.33 per dmtu excluding VAT and port handling fees, and is also down by 1.20 yuan per dmtu from 35.20...

Published

Amy Lv

October 26, 2020

12:23 GMT

Shanghai