Many ore buyers in China held back from the market in anticipation of prices softening further in coming weeks after miners lowered their offer prices for November-delivery cargoes.
This weighed heavily on high- and low-grade seaborne manganese prices and limited the volume of sales.
Fastmarkets’ manganese ore index 37% Mn, cif Tianjin dropped 24 cents to $4.17 per dry metric tonne unit on Friday.
Fastmarkets’ corresponding assessment for manganese ore 37% Mn, fob Port Elizabeth fell by 29 cents week on week to $3.30 per dmtu. This was the lowest since March 20, 2017 when it was $2.90 per dmtu.
Meanwhile, Fastmarkets’ manganese ore 44% Mn, cif Tianjin plunged 31 cents to $4.52 per...