Seaborne manganese ore prices continued to fall this past week amid rising risk aversion among Chinese buyers, partly due to the depreciation of yuan against the US dollar, while a weak alloys market also dampened consumers' appetite for seaborne cargoes.
Seaborne low-grade, high-grade manganese ore prices continue to soften. Silico-manganese prices dip further in China. Indian silico-manganese prices widen downward. Both ferro-manganese, silico-manganese prices unmoved in Europe. US ferro-manganese price moves up, while silico-manganese unchanged.Seaborne low-grade manganese ore prices continued on a downward trajectory for the third consecutive week on Friday August 9 after some ore producers cut their offer prices for September-delivery cargoes to encourage sales in response to elevated risk aversion among Chinese buyers.Fastmarkets' manganese ore index 37% Mn, cif Tianjin fell by 10 cents week on week to $5.29 per dry metric tonne unit (dmtu) on August 9. Fastmarkets' manganese ore index 37% Mn, fob Port Elizabeth moved down by 6 cents over the same comparison to $4.58 per dmtu.The decline in ore prices comes amid heightened risk aversion among buyers, partly driven by weakness in the Chinese currency. A weaker yuan means Chinese buyers will...