Market sentiment in China was further weakened by lower alloy prices, high inventories and mounting concerns about the global effects of the 2019-nCoV coronavirus, while there were also indications of some position-taking, according to market participants.
Fastmarkets’ manganese ore index, 37% Mn, cif Tianjin
slipped to $3.95 per dry metric tonne unit (dmtu) on March 13, down by $0.16 per dmtu or 3.9% week on week.
The corresponding index for manganese ore, 37% Mn, fob Port Elizabeth
also fell on Friday by $0.16 per dmtu or 4.6% week on week to a two-months low of $3.30 per dmtu.
“There is lots of material being offered but deals are not being concluded,” a producer said.
Some producers of low-grade material brought down their offer prices but still faced reluctance from buyers.
“No one is going to pay more than $4.00 per dmtu to...