Seaborne manganese ore prices drift lower amid bearish sentiment

Seaborne low and high-grade manganese ore prices fell again in the week to Tuesday April 7 amid thin trading and bearish sentiment stemming from low portside prices and high stocks at Chinese ports.

Fastmarkets’ manganese ore index, 37% Mn, cif Tianjin fell by $0.08 per dry metric tonne unit (dmtu) on April 6 to $4.61 per dmtu.
Fastmarkets’ corresponding index for manganese ore 37% Mn, fob Port Elizabeth nudged down by $0.02 per dmtu to $3.43 per dmtu on the same day.
Fastmarkets’ index for manganese ore 44% Mn, cif Tianjin went down by $0.05 per dmtu on Friday to $5.27 per dmtu.
Buyers were waiting on offer prices from some major suppliers for their May-shipment material while most miners’ prices were significantly lower than in previous weeks amid low port prices and high stocks in Chinese ports capping prices despite the sharp increase in freight rates since mid-February.

“As soon as you offer above the spot price [at Chinese ports], buyers start to ask ‘why should I buy from you if I can buy...

Published

Janie Davies

Siyi Liu

April 07, 2021

11:14 GMT

London, Shanghai