GLOBAL MANGANESE SNAPSHOT: Seaborne ore offers fall amid low portside prices, high stocks [CORRECTED]

Key data from the pricing sessions in Europe, Asia and the United States for the week ending Friday November 20.

Asia
Seaborne prices for high and low-grade manganese ore fell following lower offers amid high inventories and weakening market sentiment.Falling portside ore prices put additional downward pressure on both grades of material.Portside manganese ore prices of both grades ticked down amid diminishing buying interest after smelters stocked up in the previous two weeks.China's spot silico-manganese price was unmoved amid slow business, with smelters holding offers relatively firm.
Europe
Support for the European manganese alloy markets persisted for the fifth consecutive week, with limited supplies from domestic and overseas sources encouraging suppliers to hold their offer prices.The spot markets are likely to remain steady until early December when consumers have said they will be in the market for ferro-alloy supplies for shipments in the first quarter of 2021.
India
The export market bounced back, breaking a downtrend over the past three months, with sellers reporting sales into Japan.Japanese importers tried to resist exporter price rises in India but stronger domestic Indian prices for lower-grade silico-manganese and stabilizing price losses in the manganese ore markets ultimately benefited the Indian exporters.
United States
The United States' manganese alloy market steadied temporarily, halting recent gains, with spot activity dormant.Market participants suspect the uptrend will resume when spot trading restarts. In the interim, market participants said they will continue to focus on long-term negotiations for 2021.(This article has been updated to correct the manganese ore 37% cif Tianjin and 37% fob Port Elizabeth indices, which were published incorrectly on Friday November 20. Fastmarkets' pricing database has been updated to reflect the correction).