Ore prices drop as much as 8%
Alloy prices weaken in China, India
Alloy prices flat in Europe
US market sees limited spot trading activity
Prices weakened across China’s manganese market on December 14, after miners cut offer prices, prompting an increase in seaborne ore trades.
Fastmarkets’ 37% manganese ore index, fob Port Elizabeth, dropped by 53 cents to $5.50 per dry metric tonne unit (dmtu) on December 14.
Fastmarkets’ 37% manganese ore index, cif Tianjin, dropped 51 cents to $6.22 per dmtu.
Fastmarkets’ 44% manganese ore index, cif Tianjin, eased 29 cents to $6.91 per dmtu.
A number of miners lowered their offer prices to secure sales before the end of the year, boosting trading activity and volumes.
“I anticipate December and the start of January will be soft but I don’t expect it [low grade] will fall much below $6.20 per lb,” a manganese ore...