The seaborne prices of both grades of manganese ore rose in the week ended Friday November 22, thanks to improved short-term sentiment. But liquidity was light while buyers waited for the new round of offers for low-grade ore.
Most market participants believed that seaborne ore prices will be under long-term downward pressure, despite the recent gains, if the problem of oversupply is not improved.
Portside manganese ore prices for both grades gained further upward momentum due to some ore traders raising their offer prices. Trading was comparatively active...