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MANGANESE ORE INDEX: Prices diverge as Chinese demand lags rest of world
January 24, 2014 - 14:50 GMT
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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Euromoney Institutional Investor PLC.
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