Seaborne manganese ore prices dragged down by deteriorating sentiment

Seaborne prices for both low-and high-grade manganese ore in China moved down for the third consecutive week in the week to Friday October 23, following deteriorating overall market sentiment amid weakening portside ore and alloys markets.

Fastmarkets’ manganese ore index, 37% Mn, cif Tianjin was $3.92 per dry metric tonne unit (dmtu) on Friday, down by 11 cents per dmtu, or 2.7%, from $4.03 per dmtu previously.
The corresponding manganese ore index, 37% Mn, fob Port Elizabeth fell by 10 cents per dmtu, or 3.0%, to $3.25 per dmtu on the same day, from $3.35 per dmtu a week before. 
Fastmarkets’ manganese ore index, 44% Mn, cif Tianjin was $4.22 per dmtu on October 23, down by 5 cents per dmtu, or 1.2%, from $4.27 per dmtu in the prior week.

Despite the limited liquidity in past week due to miners having committed to deals for low-grade cargoes of...

Published

Jon Stibbs

Amy Lv

October 26, 2020

14:10 GMT

London, Shanghai