China's manganese ore prices weaken further

Manganese ore prices in China continued to head south during the week of June 17-23, with the price of South Africa-origin 36.5% grade manganese ore at North China's Tianjin port under Mysteel's assessment reaching Yuan 37.3/dmtu ($5.5/dmtu) including the 13% VAT on June 23, falling by Yuan 0.4/dmtu on week.

Downstream alloy smelters were trying to cut their procurement prices of this ore to reduce production costs, after noting the persistent weakness in silicomanganese (SiMn) prices in both physical and futures markets, which weighed on domestic manganese ore prices, Mysteel Global learned. On Tuesday, Mysteel assessed China's national price of 6517