CIF China manganese ore prices for the first time in weeks halted an uptrend, after the rally in domestic silicomanganese ended and prices took a downturn.
The S&P Global Platts weekly assessment for 44% ores was stable week on week last Friday, at $4.4/dmtu CIF Tianjin, while 37% manganese ores was also unchanged over the same period at $3.7/dmtu CIF Tianjin.
Trading activity was thin last week, according to market participants.
"It's quiet, most people are sold out for the month of September by now, and it's too early for October prices," a producer said, adding that offers for October would likely be announced in the first week of September.
No trades were heard last week for high grade ore lumps, but a buyer from a steel mill said he had purchased 10,000 mt of lower grade Australian fines at $3.98/dmtu, on a CIF China basis.
A producer of South African ores said he had heard a trade for South African 36% ores at $4.05/dmtu, CIF China.
He added that he had concluded trades for South African 37% ores at a range of $3.8-$3.95/dmtu, CIF China. Australian 45%-46% ores were last heard to be offered at $4.6/dmtu. No firm offers for Gabon 44% ores were heard.
Silicomanganese prices, which had earlier contributed to the rise in manganese ore prices to China, have fallen this week, according to local reports.
The tradable price for silicomanganese 6517 was said to have fallen by Yuan 1,000/mt week on week to Yuan 6,000-6,500/mt last Friday.
However, manganese ore prices to China have yet to fall.
