Manganese ore prices down due to buyers’ resistance

• Friday, June 18, 2021
• Source:ferro-alloys.com

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[Ferro-Alloys.com] 

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 source said.

 

Source: Fastmarket

 

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