China's manganese ore prices edge up on cost support

China's manganese ore prices recovered slightly during the period of October 21-27, with the price of South Africa-origin 36.5% grade manganese ore at North China's Tianjin port under Mysteel's assessment reaching Yuan 33.8/dmtu ($5.1/dmtu) including the 13% VAT on Tuesday, rising by Yuan 0.5/dmtu on week and touching the highest since September 16.

The recovery was mainly due to the firm import costs being borne by domestic manganese ore traders. Major overseas mines reduced their shipments to China and lifted their offers for November shipments, prompting Chinese traders to raise their offering prices accordingly, Mysteel Global learned. However, market participants anticipate that firmer