Thin buying interest, low offers pressure China portside manganese ore prices

After registering gains for two consecutive weeks, portside prices for both low and high-grade manganese ore in China ticked down in the week to Friday August 21, as a result of domestic ore traders lowering their offer prices amid thin buying interest from alloy smelters, sources said.

Fastmarkets' manganese ore port index, base 37% Mn, range 35-39%, fot Tianjin, China was 35.50 yuan ($5.13) per dry metric tonne unit (dmtu) on August 21 - equivalent to $4.36 per dmtu excluding value-added tax and port handling fees - and was down by 0.70 yuan from 36.20 yuan per dmtu a week before.
Fastmarkets' manganese ore port index, base 44% Mn, range 42-48%, fot Tianjin, China was calculated at 38 yuan per dmtu on the same day. This was equivalent to $4.65 per dmtu excluding VAT and port handling fees, and down by 0.60 yuan from 38.60 yuan per dmtu the prior week.

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