Low- and high-grade manganese ore prices in China tick down
Low grade fob ore index stable due to freight rate fall
Tight supply supports silico-manganese price in Europe
High-carbon ferro-manganese price dips in US
Alloys stable in China
Fastmarkets’ 37% manganese ore index, fob Port Elizabeth, was unchanged at $5.11 per dry metric tonne unit (dmtu) on Friday February 1.
Fastmarkets’ 37% manganese ore index, cif Tianjin, fell 5 cents to $5.71 per dmtu on Friday, while the 44% manganese ore index cif Tianjin inched down one cent to $6.45 per dmtu.
The 37% cif price fell in response to slightly lower sales prices achieved. However, trading was quiet due to the Chinese New Year holidays.
Meanwhile, the fob index did not follow the fall in the cif price. The fob Port Elizabeth index was calculated using the freight rate, which had fallen, as well as a reported market prices....