Fastmarkets’ index for manganese ore 44% Mn, cif Tianjin
was calculated at $5.12 per dry metric tonne (dmtu) on Friday, down by 3.21% from $5.29 per dmtu a week earlier.
Fastmarkets’ manganese ore index 37% Mn, cif Tianjin
edged down by 0.21% to $4.71 per dmtu on June 11 from $4.72 per dmtu a week earlier.
Miners who initiated higher offers for low-grade manganese ore met resistance and were forced to bring their sales in line with counter offers.
“Momentum has been thwarted at these higher levels and I see no upside, rather I see downside,” one supplier source told Fastmarkets.
“Port prices have not responded to rising seaborne prices, so that’s put a cap on things,” the same...