Manganese ore prices have been sliding for seven consecutive weeks and fell to 18-month lows over the past week amid buyer caution in China.
37% and 44% ore hit lowest levels since late 2017Alloy prices flatline across Asia and EuropeFurther price cuts predicted in ores and alloysUS alloy markets dormant Manganese ore prices continued their seven-week slide on Friday May 24 amid increasingly cautious sentiment in China due to high port inventories and a weaker yuan. Fastmarkets' 37% manganese ore index, fob Port Elizabeth, hit an 18-month low of $4.9 per dry metric tonne unit (dmtu) on May 24, down 16 cents week on week. Fastmarkets' 37% manganese ore index, cif Tianjin fell to $5.6 per dmtu - the lowest it has been since its launch in early 2018. Fastmarkets' 44% manganese ore index, cif Tianjin, dropped to $6.15 per dmtu on Friday May 24 its lowest level since December 1 and down 0.5% from $6.33 per dmtu on May 17. Seaborne trading was thin after high levels of liquidity over the previous...