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MANGANESE ORE INDEX: Prices diverge as Chinese demand lags rest of world

January 24, 2014 - 14:50 GMT Location: London

KEYWORDS: China , South Africa , Europe , manganese ore , ferro-manganese , silico-manganese , Metal Bulletin

Prices for low- and high-grade manganese ore continued to diverge on Friday January 24, reflecting lower demand in China than in the rest of the world, where economies are showing signs of recovery.

Metal Bulletin’s index price for 44% manganese ore cif Tianjin fell by 2 cents to $5.1 per dmtu.   Metal Bulletin’s index price for 38% manganese ore, fob Port Elizabeth rose by 6 cents to $3.84 per dmtu.  High inventories and cheap offers for local cargoes are keeping Chinese prices low, as the country winds down for its New Year holiday. Anyone who does need material will favour cheaper local cargoes over fresh imports, sources said. "We are already having a holiday as there’s almost no business; smelters who need to buy have already finished purchasing in the past few weeks," a trader from Shanghai...

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