GLOBAL MANGANESE WRAP: Ore prices surrender gains on weakening...

GLOBAL MANGANESE WRAP: Ore prices surrender gains on weakening buying interest
Manganese ore prices gave up recent gains on Friday August 31 amid buyer resistance to recent offer prices, while alloy prices were steady or higher week on week.
Ore prices drop as much as 10 cents in China Chinese physical manganese alloys markets tick up, futures weaken Silico-manganese prices rise in India European manganese alloys prices flatline Manganese ore prices dripped on Friday on poorer demand, leaving suppliers struggling to secure business with recent offer prices. Metal Bulletin’s 37% manganese ore index, cif China slipped six cents to $6.56 per dry metric tonne (dmtu), while the 37% manganese ore index fob Port Elizabeth dropped 10 cents to $5.85 per dmtu. Metal Bulletin’s 44% manganese ore index, cif Tianjin ticked down three cents to $6.87 per dmtu. “Prices are pretty stable for the time being. But it has been a harder sell than last week,” a supplier told Metal Bulletin.
Hebei Steel hikes silico-manganese purchase price for September
China’s largest steel mill, Hebei Steel, has increased its monthly purchase price for silico-manganese again, following a rise in its tender price for August.
The mill has offered to buy silico-manganese at 9,200 yuan ($1,347.36) per tonne for September delivery. The price includes delivery costs and payment through an acceptance draft, according to market sources in China. The latest tender is a markedly 800-yuan higher than the mill’s August purchase price of 8,400 yuan per tonne.