The threat of further manganese ore price falls, from recent highs, is boosting activity in Chinese ports because some buyers are avoiding seaborne cargoes amid high costs for payment terms and facilitation, and fears of material devaluing on water, market sources told Metal Bulletin.
Manganese ore prices rose sharply between late 2017 and March this year, prompting a backlash from consumers in China. The market started to show signs of weakness by late March. Metal Bulletin calculated the 37% manganese ore index, fob Port Elizabeth at $7.38 per dry metric tonne unit (dmtu) on Friday April 6, up from $7.23 per tonne the previous week, when the index dropped 19 cents. Metal Bulletin's 44% manganese ore index, cif Tianjin stands at...