Seaborne prices for both low-and high-grade manganese ore in China ticked down further in the week to Friday October 30, with falling portside ore prices and rising portside inventories continuing to weaken domestic market sentiment and buying appetite, sources said.
Fastmarkets manganese ore index 37% Mn, cif Tianjin fell by 4 cents - or 1% - to $3.88 per dmtu on Friday November 2.
Fastmarkets manganese ore index 37% Mn, fob Port Elizabeth fell by 3 cents - or 0.9% - to $3.22 per dmtu the same day.
Many Chinese buyers were hesitant to accept the offer prices from miners amid weakening market sentiment and falls in the portside market.
"We won't consider buying [low-grade manganese] ore because it's way too expensive, it's much higher than the corresponding portside price," a Chinese ore trader said.
Fastmarkets' manganese ore 44% Mn, cif Tianjin index fell by 1 cent - or 0.2% - to $4.21 per dmtu on Friday October 30.
"It's really hard for us to confirm deals at...