The seaborne and port prices for low-grade manganese ore weakened over the pricing week, with inventories reaching a new record high and poor demand in the week to Friday May 31.
Ore prices in China fall China alloy prices increase Alloys stable in Europe, United States Silico-manganese falls in IndiaMarket negativity stemmed from the high inventories and a cautious stance among buyers, which continued to dampen the seaborne manganese ore market.Fastmarkets' 37% manganese ore index, cif Tianjin fell 19 cents week on week to $5.41 per dmtu on Friday May 31.Fastmarkets' 37% manganese ore index, fob Port Elizabeth, dropped $0.17 to $4.73 per dmtu on May 31 from the prior week.Fastmarkets' 44% manganese ore index, cif Tianjin, was at $6.10 per dry metric tonne unit (dmtu) on May 31, down by 5 cents from $6.15 per dmtu on May 24.Fastmarkets assessment of manganese ore stock levels at the main Chinese ports of Tianjin and Qinzhou was 4.06-4.18 million tonnes on June 3, up from 4.04-4.12 million tonnes on May 27 and a 39.2% increase since the beginning of the year.Some...