Low-grade ore price increases in China
High-grade ore in China falls amid low liquidity
European alloys soften
US market rolls over for public holiday
Low-grade seaborne manganese ore prices rose for the second consecutive week after China’s Hebei Steel increased its monthly silico-manganese tender price for July, raising it by 300 yuan ($44) per tonne month on month. The higher tender price for downstream silico-manganese supported ore prices, with alloy smelters needing to restock to maintain operations.
“With the latest [tender price] adjustment, Chinese alloy plants can generally make handsome margins and they have to restock ore material to maintain normal production,” a trader said.
Hebei Steel released a purchase price for silico-manganese of 7,900 yuan per tonne for July delivery, up 3.9% from 7,600 yuan per tonne for June, market sources told Fastmarkets.
Following this announcement, Fastmarkets’ manganese ore 37% Mn, cif Tianjin, index climbed 17...