37% and 44% ore hit lowest levels since late 2017
Alloy prices flatline across Asia and Europe
Further price cuts predicted in ores and alloys
US alloy markets dormant
Manganese ore prices continued their seven-week slide on Friday May 24 amid increasingly cautious sentiment in China due to high port inventories and a weaker yuan.
Fastmarkets’ 37% manganese ore index, fob Port Elizabeth, hit an 18-month low of $4.9 per dry metric tonne unit (dmtu) on May 24, down 16 cents week on week.
Fastmarkets’ 37% manganese ore index, cif Tianjin fell to $5.6 per dmtu - the lowest it has been since its launch in early 2018.
Fastmarkets’ 44% manganese ore index, cif Tianjin, dropped to $6.15 per dmtu on Friday May 24 its lowest level since December 1 and down 0.5% from $6.33 per dmtu on May 17.
Seaborne trading was thin after high levels of liquidity over the previous...