China seaborne manganese ore prices slide further amid lower offers; liquidity rises

Seaborne prices for both low and high-grade manganese ore in China continued to trend down in the week to Friday November 6 after miners lowered offer prices for December shipments on persistently weak sentiment, partly due to record high port inventories, sources told Fastmarkets.

Lower offers sparked some buying interest and led to improved liquidity in the past week as a result, sources said.
Fastmarkets’ manganese ore index 37% Mn, cif Tianjin dropped by 4 cents, or 1%, week on week to $3.84 per dry metric tonne unit (dmtu) on Friday November 6. The index has been on the decline for eight consecutive weeks and has registered a fall of 11.1% over the period.
Fastmarkets’ manganese ore index 37% Mn, fob Port Elizabeth dipped for the sixth consecutive week by 5 cents, or 1.6%, week on week to $3.17 per dmtu on November 6.

Some Chinese buyers placed orders for seaborne low-grade ore volumes, although for different reasons, with some trying to average out their...

Published

Amy Lv

November 09, 2020

13:05 GMT

Shanghai