Manganese ore prices to China weakened further Friday on the first day back after the Chinese holidays.
S&P Global Platts assessed 44% ores flat from last week at $6.70/dry mt unit CIF Tianjin Friday, while 37% manganese ores fell to $5.30/dmtu, CIF China from $6/dmtu, CIF China Friday last week.
While some Chinese sources have yet to return, one Chinese buyer which had said the market is extremely poor, adding that he had not heard new offers this week.
One South African miner said he heard that the market is under pressure, and had heard 44% Gabon ores being offered at $5.80/dmtu, CIF China the week before. He added that he had not offered this week.
Another South African miner said he would be offering a cargo today of South African 36.5% lumps at $5.30-$5.40/dmtu, CIF China.
"I'll only know the reaction next week," he said.
Before Chinese new year holidays, the most recent offers heard by major miners, as noted by Chinese market participants were: South32's latest offer for its Australian ores at $7/dmtu, CIF China and its 37% South African ores at $6.10/dmtu, CIF China. Eramet was heard offering its 44% Gabon ores at $6.70/dmtu, CIF China.
