Aggressive bidding and lower offer prices weighed on manganese ore prices in China, where inventories also fell sharply in the week ended Friday January 18.
Manganese ore prices in China continue to fall Manganese ore stocks in China slump Ferro-manganese prices in Europe, China drop Silico-manganese price fob India falls Alloy prices stable in United States The manganese ore markets - fob and in China - fell last week. While the rate of fall for 37% ore was slower than over recent weeks, some miners expected continued price weakness. Fastmarkets 37% manganese ore index, fob Port Elizabeth, fell $0.08 to $4.99 per dry metric tonne unit (dmtu) on Friday January 18. Fastmarkets' 37% manganese ore index, cif Tianjin, also dropped $0.08 to $5.68 per dmtu, while the 44% manganese ore index, cif Tianjin, fell by $0.09 cents to $6.46 per dmtu. Major producers lowered their offers to secure sales for February deliveries amid falling downstream ferro-alloy prices. Counter bids from China have also been increasingly aggressive, one supplier told Fastmarkets. "The spread between offers...