Chinese portside manganese ore prices rose for the first time since August on Friday November 15 after many ore traders held back from offering and those that did offer raised their prices in response to the concentration of inquiries, market sources told Fastmarkets.
Fastmarkets' manganese ore port index, base 37% Mn, range 35-39%, fot Tianjin China climbed to 32.10 yuan ($4.57) per dry metric tonne unit (dmtu), equivalent to $3.93 per dmtu, excluding value-added tax and port handling fees, on Friday. This was up by 0.40 yuan per dmtu week on week. The price has declined by 27.2% since early September. The manganese ore port index, base 44% Mn, range 42-48%, fot Tianjin China rose by 0.5 yuan per dmtu week on week to 34.30 yuan per dmtu (equivalent to $4.18 per dmtu, excluding VAT and port handling fees) on the same day. The price has posted a drop of 24.9% since early September. Some Chinese manganese ore traders held off from offering to avoid increasing the availability of spot cargoes and...