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Following a flip in global steel and ferrous trade flow trends last year caused by economic jitters in Turkey, trade defenses by the United States and production cuts in China, this year it is steel prices that are turning upside down.
The seaborne high-grade manganese ore index fell in the week to August 30, while the low-grade ore market consolidated after falling heavily in the previous week.
The tumble in the ferro-vanadium export price in China paused last week, buoyed by a mild recovery in the domestic market last week after buying interest among downstream mills returned.
Market participants have kept a close eye on the softening European selenium price over the summer for clues on how the market will perform from September when activity usually starts to pick up.
Ferro-chrome prices continue to weaken in Europe due to producers’ competition for sparse consumer interest.