Ore prices fall as much as 6%
Chinese alloy prices slide on weaker demand from steel mills
Indian silico-manganese weakens
European alloy prices flatline
US ferro-manganese holds; silico-manganese trading range narrows
Manganese ore prices continued lower on Friday May 11 amid weakening demand due to shrinking purchase volumes for both ore and alloy.
Metal Bulletin’s price index for 37% manganese ore cif Tianjin, China, fell 38 cents to $6.22 per dry metric tonne unit (dmtu).
Metal Bulletin’s price index for 37% manganese ore fob Port Elizabeth, South Africa, fell 38 cents to $5.59 per dmtu.
Metal Bulletin’s price index for 44% manganese ore cif Tianjin, China, fell 7 cents to $7.39 per dmtu.
There were fewer purchases of ore during the week and volumes were smaller, while steel mills also bought less manganese alloy.
“Steel mills are beginning to scale back on their production capacities and we are selling less,” a bulk...