An eagerness to maintain relationships by doing deals with counterparties has left some manganese ore buyers and suppliers saddled with unsustainable financing costs, market participants told Fastmarkets this week.
Market participants who bought high-priced material in February and March are still financing high-priced material that has since devalued and some have reached the end of their tolerance for taking risks in the hope they can reverse their fortunes later, they said.But the market has fallen by as much as 12.27% since the middle of March, due to weaker port prices...