Disappointing restocking puts more pressure on China manganese ore prices

Portside prices for both low- and high-grade manganese ore in China continued to fall in the week to Friday September 25, after ore traders cut their offer prices further in response to disappointing pre-holiday restocking activity among alloy smelters, market sources told Fastmarkets.

Fastmarkets' manganese ore port index, base 37% Mn, range 35-39%, fot Tianjin, China, was 34.20 yuan ($5.01) per dry metric tonne unit (dmtu) on September 25. This figure was equivalent to $4.30 per dmtu excluding value-added tax and port handling fees, and was down by 1.0 yuan per dmtu from 35.20 yuan per dmtu in the preceding week.
The corresponding manganese ore port index, base 44% Mn, range 42-48%, fot Tianjin, China, was calculated at 36.80 yuan per dmtu on September 25. This was equivalent to $4.61 per dmtu excluding VAT and port handling fees, and was down by 0.80 yuan per dmtu from 37.60 yuan per dmtu a week before.

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