Low-grade manganese ore prices slide after four consecutive weeks of increases
High-grade ore market flat
Silico-manganese prices unchanged in China
Indian silico-manganese market ticks up
Ferro-manganese price weakens in Europe, silico-manganese holds
US alloys prices steady
Seaborne low-grade manganese ore prices slid on Friday July 26 due to lower offers for September-delivery cargoes and weakening port prices.
Fastmarkets’ manganese ore index 37% Mn, cif Tianjin, dropped by 12 cents week on week to $5.51 per dry metric tonne unit (dmtu) on July 26.
Fastmarkets’ manganese ore index 37% Mn, fob Port Elizabeth, fell 14 cents over the same comparison to $4.69 per dmtu.
Despite the lower offers, a number of Chinese ore traders and manganese alloy smelters remained on the sidelines of the market, waiting for clear direction from August silico-manganese tender prices due this week.
“We won’t accept offer prices for September-delivery cargoes because they’re too high. Besides, it’s...