Manganese ore prices soften on bearish steel outlook

摘要

The price of seaborne manganese ore bound for Asia edged lower Tuesday, due to a lack of market confidence on steel fundamentals in China. The Platts 44% Mn ore assessment was assessed at $4.85/dry mt unit CIF Tianjin Tuesday, 5 cents down from the day before. Market opinion on the price direction for manganese ore remained bearish as demand for manganese alloy is expected to be dented by narrowing steel margins when China returns from a week-long holiday.