Seaborne low-grade and high-grade manganese ore prices drop.
Silico-manganese prices edge down in China.
Indian silico-manganese prices narrow downward.
Both ferro-manganese and silico-manganese prices slide in Europe.
US alloys prices unchanged.
Seaborne low-grade manganese ore prices fell for a second consecutive week on Friday August 2 amid relatively low trading prices concluded for September-delivery cargoes.
Fastmarkets’ manganese ore index 37% Mn, cif Tianjin dropped by 12 cents week on week to $5.39 per dry metric tonne unit (dmtu) on August 2.
Fastmarkets’ manganese ore index 37% Mn, fob Port Elizabeth fell by 5 cents over the same comparison to $4.64 per dmtu.
Some low-grade ore producers lowered their offer prices to secure business for September-delivery cargoes after noticing that buyers in China were resistant to initial offers and gave aggressive counter-bids instead, according to market participants.
“There has been a slight softening in the market for material...