Downstream bullishness turns sliding seaborne manganese ore prices

Seaborne manganese ore prices reversed recent losses after deals were signed at higher levels week on week and sentiment strengthened downstream.

Fastmarkets’ manganese ore index 37% Mn, cif Tianjin rose by 14 cents (3.3%) to $4.44 per dry metric tonne unit (dmtu) on Friday May 7, up from $4.30 per dmtu a week earlier.
Fastmarkets’ manganese ore index 44% Mn, cif Tianjin ticked up to $4.92 per dmtu on the same day, up by 18 cents (3.8%) from $4.74 per dmtu the previous week.
Some major miners quoted higher offers for June shipment that Chinese buyers accepted given the prices matched the port price level, while the bullish momentum in the downstream steel market boosted participants’ confidence in the near-term outlook for silico-manganese and manganese ore.

“[The latest offers in the seaborne market] are reasonably...

Published

Janie Davies

Siyi Liu

May 10, 2021

13:36 GMT

London, Shanghai