Manganese ore buyers secured cheaper offers for low-grade ore last week when they returned to the market for March material.
Low-grade manganese ore prices falter even as activity picks upHigh-grade ore quotations stand firmOre buyers favor seaborne cargoes over port stocksAlloy prices stable in India and EuropeUS alloy prices strengthen on spot activity uptick amid harsh weather conditions Low-grade manganese ore prices dipped on Friday January 19 after buyers returning to the market for March cargoes encountered lower seaborne offer prices from some miners. Metal Bulletin's 37% manganese ore index, fob Port Elizabeth dropped 13 cents to $5.90 per dry metric tonne unit (dmtu). Metal Bulletin's 44% manganese ore index, cif Tianjin rose 1 cent to $6.87 per dmtu. "Demand is better this week as end-users are actively seeking out cargoes and wanting to build up inventory before the long Chinese New Year holidays," a manganese ore supplier told Metal Bulletin. While buyers were able to secure attractive offers from some miners, port...