MANGANESE ORE SNAPSHOT: Prices inch up, market awaits clear direction

Key data from July 1 pricing session

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

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