China's manganese ore prices weaken further

Manganese ore prices in China weakened continuously during the week of May 27-June 2. The price of South Africa-origin 36.5% grade manganese ore at North China's Tianjin port under Mysteel's assessment sat at Yuan 37.8/dmtu ($5.6/dmtu) including the 13% VAT by June 2, edging down Yuan 0.2/dmtu from one week before.

Downstream alloy smelters are cautious about buying more manganese ore amid prevalent wait-and-see sentiment in the domestic market, putting some pressure on the spot prices of this ore, Mysteel Global learned. Some major overseas mines have decided to cut their offers of manganese ore for shipments to China in July.