FOCUS: Change in purchasing habits partly blamed for weakening low-grade manganese ore market

Changes in the purchasing habits of some Chinese alloy smelters are partly to blame for the weakness in the low-grade manganese ore market, sources told Fastmarkets.

Prices for the low-grade manganese ore, also called semi-carbonate, in both seaborne and portside markets have generally trended downward since hitting year-to-date highs in late April on supply concerns after South Africa implemented stringent nationwide lockdown measures from late March to stem the spread of the Covid-19 pandemic.
Fastmarkets’ manganese ore index, 37% Mn, cif Tianjin stood at $3.92 per dry metric tonne unit (dmtu) on Friday October 23, a decline of $2.87 per dmtu (42.3%) from the year-to-date high of $6.79 per dmtu reached on April 24.
Fastmarkets’ manganese ore port index, base 37% Mn, range 35-39%, fot Tianjin, China was 31.70 yuan ($4.72) per dmtu on October 23, down by 22.80 yuan per dmtu (41.8%) from the year-to-date high of 54.50 yuan per dmtu on May 1.

South African ore accounts for around 40% of China’s total monthly imports...

Published

Amy Lv

October 29, 2020

08:17 GMT

Shanghai