Seaborne and portside manganese ore prices for low- and high-grade material in China declined in May, despite previous expectations that prices would rise, driven by tightening supplies from South Africa and falling port inventories.
Strict Covid-19 restrictions in South Africa were expected to have a significant impact on deliveries, resulting in fewer deliveries to Chinese ports and putting upward pressure on manganese ore prices.And Fastmarkets' manganese ore index, 44% Mn, cif Tianjin, sank to $6.11 per dmtu on May 29, down by 44 cents, or 6.7%, from $6.55 per dmtu on May 1 when it had climbed by $2.28 per dmtu or 53.4% from $4.27 per dmtu on March 20.
...