Fastmarkets assessed manganese ore inventories at the main Chinese ports of Tianjin and Qinzhou
at 5.76 million-5.87 million tonnes on Monday May 17, down by 2.84% from 5.93 million-6.04 million tonnes the previous week and the lowest level since October 5, 2020.
“The lowered stock level today hasn’t been seen in the market for quite a while,” a manganese ore trader said.
Manganese ore inventories at major Chinese ports nearly doubled in the second half of last year to an unpreceded level. More specifically, Fastmarkets’ inventories assessment peaked at 6.71 million-6.91 million tonnes on November 23, 2020, up by 3.015 million tonnes (79.45%) at the midpoint from 3.71 million-3.88 million tonnes on June 22,...