Fastmarkets’ price index for manganese ore 44% Mn, cif Tianjin, rose to $5.26 per dry metric tonne unit (dmtu) on September 10, up by 12 cents per dmtu (2.3%) from $5.14 per dmtu a week earlier.
The corresponding manganese ore index 37% Mn, cif Tianjin, was calculated at $4.48 per dmtu on the same day, unchanged from the previous week.
There was some fresh liquidity for both low- and high-grade manganese ores, but the market was still constrained, with buyers telling Fastmarkets that they had lowered their purchase volumes after miners refused to lower their offer prices.
“We had to cut the volumes that we normally buy,” a manganese ore buyer said. “Alloy producers can tolerate the prices but it’s difficult for traders whose confidence is knocked [by...