China portside manganese ore prices find support from resumed buying

After seven consecutive weeks of decline, portside prices for low- and high-grade manganese ore in China halted their downtrends with the high-grade one even registering slight gains in the week to Friday November 6 on increased buying interest from alloy smelters.

Fastmarkets’ manganese ore port index, base 37% Mn, range 35-39%, fot Tianjin, China was 30.60 yuan ($4.63) per dry metric tonne unit (dmtu) on Friday, flat week on week. This figure is equivalent to $3.96 per dmtu excluding value-added tax and port handling fees.
The corresponding manganese ore port index, base 44% Mn, range 42-48%, fot Tianjin, China was 33.60 yuan per dmtu on the same day, up by 0.40 yuan per dmtu from 33.20 yuan per dmtu in the preceding week. The latest calculation is equivalent to $4.34 per dmtu excluding VAT and port handling fees.

Many domestic alloy smelters returned to the market to purchase ore cargoes on expectations that portside prices will struggle to fall significantly lower and having found a general direction for acceptable ore prices from the first round of bids for November-delivery silico-manganese from Hebei...

Published

Amy Lv

November 09, 2020

10:00 GMT

Shanghai