Steel mills in China have lowered their bids for alloys, while ores resisted some downward pressure and some buyers secured deals at lower prices in the week ending Friday December 7.
Lower and higher grade ore prices rangebound in cif market Low grade fob index increases on falling freight rate Alloy price in China falls Ferro-manganese into Europe soars US alloys unmoved in quiet spot marketThe Chinese manganese ore price, cif Tianjin, was rangebound this week, however, 37% ore trades were made across a wide range of 70 cents per dry metric tonne unit (dmtu), which indicated uncertainty in the market. The 37% manganese ore index on a fob basis rose 1.5% because it was calculated using the freight rate, which had fallen.Fastmarkets MB's 44% manganese ore index, cif Tianjin, edged up two cents week on week to $7.18 per dmtu on Friday.Fastmarkets MB's 37% manganese ore index, cif China, inched down 3 cents week on week to $6.73 per dmtu.Meanwhile, Fastmarkets MB's 37% manganese ore index fob Port Elizabeth rose 9 cents week on week to $6.03 per dmtu.There...