Manganese ore prices down due to buyers' resistance

Manganese ore prices dropped on Friday June 11 after buyers in China staged resistance to rising offer prices from miners and liquidity decreased.

Fastmarkets' index for manganese ore 44% Mn, cif Tianjin was calculated at $5.12 per dry metric tonne (dmtu) on Friday, down by 3.21% from $5.29 per dmtu a week earlier.
Fastmarkets' manganese ore index 37% Mn, cif Tianjin edged down by 0.21% to $4.71 per dmtu on June 11 from $4.72 per dmtu a week earlier.
Miners who initiated higher offers for low-grade manganese ore met resistance and were forced to bring their sales in line with counter offers.
"Momentum has been thwarted at these higher levels and I see no upside, rather I see downside," one supplier source told Fastmarkets.

"Port prices have not responded to rising seaborne prices, so that's put a cap on things," the same...

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