Aggressive bids and ample supply weighed on seaborne and port prices for low-grade manganese ore in the week ending on Friday June 7.
Ore prices continue fall in China Stocks in China resist rising trend Alloys stable in Europe, US The manganese alloy price in India ticks downLow-grade manganese ore prices in China fell for the ninth consecutive week, with buyers' aggressive bids driving down spot offers for July delivery.Fastmarkets' 37% manganese ore index, cif Tianjin, fell by $0.13 to $5.28 per dry metric tonne unit (dmtu) on Friday June 7 compared with the previous week.Fastmarkets' 37% manganese ore index, fob Port Elizabeth, also dropped $0.13 per dmtu week on week to reach $4.60 per dmtu on June 7."I've concluded for July [but] not at a very favorable price," a supplier told Fastmarkets, citing competitive offers from buyers. "End consumers are being much more aggressive with their bids than traders are at the moment."Demand for volumes has also been relatively poor over the week. Some Chinese buyers took a 'wait and see'...