Chinese smelter restarts prompt downward correction in alloy prices
Ore prices follow alloy lower
Indian alloy prices rise on strong demand from east Asia
European ferro-manganese prices drop on lower producer offers
Manganese ore and alloy prices dropped in China on Friday July 6, due to alloy smelters restarting furnaces after weeks of environmental restrictions.
Chinese domestic silico-manganese and ferro-manganese prices had soared in June due to the widespread shutdowns, driving manganese ore prices higher in response.
While smelter restarts signaled easing supply tightness, alloy prices corrected lower and manganese ore prices dropped for the first time since late May on thin trading.
Metal Bulletin's price quotation for Chinese domestic silico-manganese dropped to 8,000-8,100 yuan ($1,204-1,219) per tonne from 8,200-8,400 yuan per tonne a week earlier.
The most-traded September silico-manganese contract price on the Zhengzhou Commodities Exchange (ZCE) was also down 314 yuan per tonne to 7,782...