Low-grade ore prices gain up to 22 cents per dmtu
Alloy prices keep sliding in China
Indian silica-manganese prices edge up
European alloy prices stabilize
Low-grade manganese ore prices jumped by as much as 3.9% on Friday March 1 amid a flurry of demand in China, reversing falls seen the previous week.
Fastmarkets’ 37% manganese ore index, cif Tianjin gained 22 cents or 3.7% to $6.19 per dry metric tonne unit (dmtu) and Fastmarkets’ 37% manganese ore index, fob Port Elizabeth, rose 21 cents to $5.57 per dmtu.
But Fastmarkets’ 44% manganese ore index cif Tianjin fell 15 cents to $6.39 per dmtu.
Producers raised offers for 37% ore to as high as $6.28 per dmtu, cif Tianjin, but while demand was strong, alloy smelters bid aggressively, balancing their need for material against concerns of thinning profit margins due to higher cost ore feed and subdued alloy prices....