China's manganese ore prices stabilize, but pressure persists

Manganese ore prices in China stabilized during the week of June 3-9, with the price of South Africa-origin 36.5% grade manganese ore at North China's Tianjin port under Mysteel's assessment standing at Yuan 37.8/dmtu ($5.6/dmtu) including the 13% VAT by June 9, the same level as one week before.

Domestic manganese ore traders have been maintaining firm offers, citing higher import costs of the ore stocks they purchased one to two months earlier at elevated prices. Meanwhile, steady run rates at downstream alloy smelters supported their demand for manganese ore as well, which in turn encouraged manganese ore traders