Manganese ore prices weaken on lower producer offers
Manganese alloy prices under pressure in China
Indian silico-manganese prices hold
European alloys markets flatline in thin trading
US market flat amid inactivity
Manganese ore prices weakened on Friday May 10 after major suppliers were forced to reduce offer prices to secure sales.
Fastmarkets’ 44% manganese ore index, cif Tianjin, dropped 7 cents week on week to $6.33 per dry metric tonne unit (dmtu) on Friday.
Some high-grade manganese ore producers attempted to keep their June offer prices flat against May, but buyers have staged opposition amid falling alloys prices and a widening gap between low and high-grade ore prices.
“It is not reasonable for high-grade ore suppliers to keep offer prices flat, when prices for other grades are falling,” one trader told Fastmarkets.
Fastmarkets’ 37% manganese ore index, cif Tianjin dropped to $5.82 per dmtu on May 10,...