Spot Chinese manganese weakens on lower offers

摘要

Manganese spot prices softened Friday as producers had to lower offers to induce buying amid weak steel margins globally, trade sources said. Platts assessed FOB China spot electrolytic manganese at $2,550-2,600/mt Thursday, down Yuan 50/mt from last week. The Hongxin Group, a major manganese metal producer based in Hubei, sold over 320 mt of manganese metal to European, South Korean and Japanese buyers this week at $2,550-2600/mt FOB China, with cargoes loading from Yichang port in Hubei.