Seaborne low-grade, high-grade manganese ore prices continue to soften.
Silico-manganese prices dip further in China.
Indian silico-manganese prices widen downward.
Both ferro-manganese, silico-manganese prices unmoved in Europe.
US ferro-manganese price moves up, while silico-manganese unchanged.
Seaborne low-grade manganese ore prices continued on a downward trajectory for the third consecutive week on Friday August 9 after some ore producers cut their offer prices for September-delivery cargoes to encourage sales in response to elevated risk aversion among Chinese buyers.
Fastmarkets’ manganese ore index 37% Mn, cif Tianjin fell by 10 cents week on week to $5.29 per dry metric tonne unit (dmtu) on August 9.
Fastmarkets’ manganese ore index 37% Mn, fob Port Elizabeth moved down by 6 cents over the same comparison to $4.58 per dmtu.
The decline in ore prices comes amid heightened risk aversion among buyers, partly driven by weakness in the Chinese currency. A weaker yuan means Chinese buyers will...