Key data from July 1 pricing session
44% manganese ore, cif Tianjin , $ per dmtu
37% manganese ore, fob Port Elizabeth, $ per dmtu
| Grade | Today | Previous |
| 44% | 2.99 | 2.98 |
| 37% | 2.23 | 2.21 |
Average freight costs for 37% ore (South Africa to China): $17 per tonne
Key drivers
-After two weeks of strong activity (which flushed out aggressive counter bids and lower deal prices), many market participants are on the sidelines and less material is being offered
-Prices have been undermined all year by oversupply, but most market participants believe prices are near their floor
-Prices for both grades have been fluctuating in a 4-5 cent range for a month and have been described by most market participants as largely stable
Key quote
“The prices have rolled over in the last week; everyone is sitting waiting for direction. I didn’t see anything offered.”
European trader
Janie Davies
jdavies@metalbulletin.com
Twitter: @janiedavies_mb