Manganese markets were quiet in the week ended Friday August 27, with buyers expecting miners to reduce their offer prices for October shipments to match the port markets.
"[Miners] must at least offer at a level equal to the port markets to attract buying interest, otherwise smelters will just buy from the spot market," a manganese ore buyer said. "And traders would further lower their purchase amounts with the absence of speculation opportunities."Fastmarkets' manganese ore port index, base 37% Mn, range 35-39%, fot Tianjin, China, edged up by 0.10 yuan per tonne to 34.10 yuan ($5.27) per dry metric tonne unit (dmtu) on Friday, from 34 yuan per dmtu the previous week. This would be equivalent to $4.52 per dmtu excluding value added tax (VAT) and port handling fees....