China’s Demand for Manganese Ore Remains at a Standstill

Platts reported that import demand for manganese ore in China is at a standstill this week as buyers look at prices below $4/mtu on a cost, insurance and freight (CIF) basis, likely due to a weak ferroalloys market and the upcoming Lunar New Year holiday.

As quoted in the market news:

BHP offers of 44% grade lumps were heard rangebound at $4.05-4.10/mtu CIF China Friday for February shipments, unchanged from last week but down from its initial offer of $4.25/mtu early last month, Chinese sources said.

The producer’s spot materials ex-Tianjin port were pegged Friday at around Yuan 32/mtu ($5.20) for 44% grade and at Yuan 32.50-33/mtu for 45-46% grade, sources said.

Eramet was quoted a stable $3.90-4.05/mtu CIF China Friday, with port prices for its 44% lumps ex-Tianjin offered at around Yuan 31/mtu for lumps and Yuan 29.50/mtu for fines.

Click here to read the full Platts report.