GLOBAL MANGANESE WRAP: High-grade ore weakens again, low-grade decline slows [CORRECTED]

High-grade manganese ore prices took another dive in China in the week to Friday June 14, while low-grade manganese ore prices showed signs of stabilizing following a recent downtrend.

High-grade manganese ore prices drop, low grade weakens more slowly Chinese silico-manganese prices rebound Indian silico-manganese prices claw back losses Ferro-manganese hits 2019 low in Europe Fastmarkets’ 44% manganese ore index, cif Tianjin, dropped to $5.88 per dry metric tonne unit (dmtu) on Friday June 14, down from $5.95 per dmtu on June 7. Bids for low grade ore prices remained aggressive but prices weakened only slightly amid seller resistance to the lowest bids. Fastmarkets’ 37% manganese ore index, cif Tianjin dipped to $5.26 per dmtu on June 14, down just $0.02 from $5.28 per dmtu on June 7 when the price had dropped 13 cents week on week. Fastmarkets’ 37% manganese ore index, fob Port Elizabeth, was at $4.60 per dmtu on Friday, unchanged from last week. “Smelters bid lower because they believed producers were still under pressure to sell,” a second trader said. Other market participants expected...

Published

Janie Davies

Chris Kavanagh

Susan Zou

Declan Conway

Jon Stibbs

June 18, 2019

17:13 GMT

London, New York, Shanghai, Galway