GLOBAL MANGANESE WRAP: Seaborne low-grade ore market gives up recent gains, port prices continue to slide

Seaborne low-grade manganese ore prices changed direction after four weeks of recovery, weighed down by lower offers and weaker port prices.

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...

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Janie Davies

Chris Kavanagh

Declan Conway

Jon Stibbs

Amy Lv

July 30, 2019

03:55 GMT

London, New York, Galway, Shanghai