Manganese ore prices drop in China after alloy tender is cut
Spot domestic silico-manganese prices slide in China
Indian silico-manganese prices weaken further
European alloy price holds steady in thin trading
US ferro-manganese prices soften on sluggish demand.
Manganese ore prices softened in China on Friday September 6 after Hebei Steel lowered its September tender price for silico-manganese.
Fastmarkets’ index for manganese ore, 37% Mn, fob Port Elizabeth, dropped by 15 cents week on week to $4.06 per dry metric tonne unit (dmtu) on Friday.
The corresponding manganese ore index, 37% Mn, cif Tianjin, dropped by 5 cents to $4.99 per dmtu on the same day.
The fob index fell more sharply than the cif index, reflecting an increase in the cost of freight between South Africa and China.
Also on Friday, Fastmarkets’ index for manganese ore, 44% Mn, cif Tianjin, nudged down by 3 cents $5.47 per dmtu.
Leading carbon steel mill Hebei Steel...