High stocks continue to weigh on seaborne manganese ore prices

Seaborne manganese ore prices continued their downward trend in the week ended Friday November 13 amid high inventories and despite price rises in China’s portside ore market.

Liquidity thinned in the seaborne market following a flurry of sales for December-delivery cargoes in the previous week.
Fastmarkets’ manganese ore index 37% Mn, cif Tianjin dropped by 1 cent, or 0.3%, week on week to $3.83 per dry metric tonne unit (dmtu) on Friday. The index has been on the decline for nine consecutive weeks and has registered a fall of 11.3% over the period.
Fastmarkets’ manganese ore index 37% Mn, fob Port Elizabeth dipped for the fifth consecutive week by 1 cent, or 0.3%, week on week to $3.16 per dmtu on November 13.
Fastmarkets’ manganese ore index 44% Mn, cif Tianjin fell by 4 cents, or 1.0%, week on week to $4.13 per dmtu on the same day. The index has slipped for six straight weeks by 6.1% over that time.

The...

Published

Jon Stibbs

Amy Lv

November 16, 2020

12:14 GMT

London, Shanghai