Still weakened manganese alloy and steel markets have reversed the rally seen in manganese ore markets since early September, with prices for both low- and high-grade seaborne manganese ore falling over the week ending November 12.
Fastmarkets'
manganese ore 44% Mn, cif Tianjin price index was calculated at $5.66 per dry metric tonne unit (dmtu) on Friday, down by $0.14 (-2.41%) from $5.80 per dmtu one week earlier.
Fastmarkets'
manganese ore index 37% Mn, cif Tianjin price index was calculated at $4.80 per dmtu on Friday, a decrease of $0.06 (-1.23%) from $4.86 per dmtu seven days prior.
"The market has been very gloomy this week. From what we hear there has been a lack of demand for silico-manganese from the steel mills," a producer said. "Although the smelters are still producing in southern China, they must be near to break-even point."
Steel markets in China, including rebar, the major downstream consumer for silico-manganese, have
suffered from heavy backswings since mid-October, which has dampened confidence among participants in the manganese market.
"You can't expect ore and...