China portside manganese ore prices down after buying recedes

Portside prices of both low and high-grade manganese ore in China ticked down in the week ended Friday November 20, after many domestic alloy smelters retreated from the market following a wave of restocking that had contributed to price gains in the prior two weeks.

Fastmarkets’ manganese ore port index, base 37% Mn, range 35-39%, fot Tianjin, China was 30.60 yuan ($4.66) per dmtu on November 20, down by 0.30 yuan per dmtu from 30.90 yuan per dmtu a week earlier. This latest figure is equivalent to $3.98 per dmtu excluding value-added tax and port handling fees.
The manganese ore port index, base 44% Mn, range 42-48%, fot Tianjin, China was 33.60 yuan per dmtu on November 20, down by 0.70 yuan per dmtu from 34.30 yuan per dmtu a week prior. The latest calculation is equivalent to $4.36 per dmtu excluding VAT and port handling fees. 
Some ore traders had to trim their offers in an attempt to secure business last week amid shrinking buying interest, market sources said.

“It’s clear the number of inquiries shrank evidently...

Published

Amy Lv

November 23, 2020

14:05 GMT

Shanghai