High-grade manganese ore prices took another dive in China in the week to Friday June 14, while low-grade manganese ore prices showed signs of stabilizing following a recent downtrend.
High-grade manganese ore prices drop, low grade weakens more slowlyChinese silico-manganese prices reboundIndian silico-manganese prices claw back lossesFerro-manganese hits 2019 low in Europe Fastmarkets' 44% manganese ore index, cif Tianjin, dropped to $5.88 per dry metric tonne unit (dmtu) on Friday June 14, down from $5.95 per dmtu on June 7.Bids for low grade ore prices remained aggressive but prices weakened only slightly amid seller resistance to the lowest bids. Fastmarkets' 37% manganese ore index, cif Tianjin dipped to $5.26 per dmtu on June 14, down just $0.02 from $5.28 per dmtu on June 7 when the price had dropped 13 cents week on week. Fastmarkets' 37% manganese ore index, fob Port Elizabeth, was at $4.60 per dmtu on Friday, unchanged from last week."Smelters bid lower because they believed producers were still under pressure to sell," a second trader said.Other market participants expected...