China's manganese ore prices remain weak

Manganese ore prices in China continued sliding during the week of May 20-26, with the price of South Africa-origin 36.5% grade manganese ore at North China's Tianjin port under Mysteel's assessment reaching Yuan 38/dmtu ($5.6/t) including the 13% VAT on May 26, dipping by Yuan 0.2/dmtu from one week earlier.

Nevertheless, the decrease in ore prices has narrowed recently, as domestic traders have refused to make more concessions in their offering prices, given their high import costs of this ore, Mysteel Global learned. Meanwhile, the quantities of manganese ore being delivered to China's major ports have declined recently, leading to