Low-grade manganese ore prices have given up most of July's gains in the past two weeks due to lower offers and general risk aversion in China.
Fastmarkets' manganese ore index 37% Mn, cif Tianjin, dropped 12 cents to $5.39 per dmtu on Friday August 2 after producers reported aggressive counter-bids from buyers in China, prompting them to offer low to secure sales. Some deals were reported as low as $5.30 per dmtu. Seaborne prices were hit by the weaker port market, which weakened to a seven-week low. Fastmarkets'...