Manganese ore prices at Chinese ports soften amid poor demand

09 January 2017

Seaborne manganese ore prices to China were unchanged this week in quiet trade as the market watched Chinese port prices soften.

S&P Global Platts assessed 44% ores flat week on week at $9.10/dry mt unit CIF Tianjin Friday and 37% manganese ores unchanged at $8.2/dmtu CIF Tianjin.

Chinese participants noted that ores at Chinese ports were falling by about Yuan 3-5/dmtu, ex-ports as demand slowed. Chinese buyers and traders said that they were less interested in purchasing now as raw materials such as coal had become too high, and they could no longer bear such high prices. “Coal prices are up. At these prices we will lose money,” said one silicomanganese producer. While domestic coking coal prices have begun to fall in the past two days, a producer noted that the alloy market would experience a delayed effect from this.

Last week, most Chinese participants noted South32’s offer of $9.25/dmtu CIF China for its 45-46% ores and Gabon 44% being offered at $9/dmtu CIF China. No new offers were heard, and no trades were heard.

Source – Platts