Representatives from Chinese manganese alloy smelters held another meeting on Thursday May 24 to discuss manganese ore prices, according to market sources.
It was the third such meeting since early March, when smelters agreed not to pay more than $8 per dry metric tonne unit (dmtu), on a cif basis, for low-grade manganese ore, sparking a protracted decline in prices. During the discussions on Thursday, smelters said they consider $5 for 37% manganese ore and $6 for 44% manganese ore to be reasonable prices, sources told Metal Bulletin. Metal Bulletin's 44% manganese ore index, cif Tianjin stands...