The high-grade seaborne market registered a more pronounced decline last week with increased liquidity highlighting material availability and leaving sellers to cut their offer prices for August-delivery cargoes to secure sales, market participants said.
Fastmarkets’ manganese ore index 44% Mn, cif Tianjin
was calculated at $4.15 per dry metric tonne unit (dmtu) on July 17, a 6.3% drop from $4.43 per dmtu on July 10.
Fastmarkets’ manganese ore index 37% Mn, cif Tianjin
settled at $3.87 per dmtu on July 17, a 3.5% decline from $4.01 per dmtu a week ago.
Fastmarkets' corresponding manganese ore index 37% Mn, fob Port Elizabeth
fell by 4.2% week on week to $3.22 per dmtu the same day.
The lower-than-expected offer prices for high-grade ore...