ORES & ALLOYS BLOG: Small rise in manganese ore prices wiped out by freight increase

A small increase in low-grade manganese ore prices between the start and end of last week has been masked by rising freight rates on the route between South Africa and China.

Manganese ore prices were reported on a cif basis in the range $2.45-2.80 per dmtu at the start of the week beginning Monday March 6. By the end of last week, fob prices were being reported as high as $2.40 per dmtu and cif prices as high as $3.25, according to data submitted to Metal Bulletin’s manganese ore indices. But the price increase, from a producer earnings perspective, appeared to be wiped out by an increase in freight rates over the past week, meaning the average fob price paid still dropped week-on-week. Metal Bulletin’s 37% manganese ore index, fob Port Elizabeth, dropped 12 cents in a week on Friday March 10 to $2.23 per...

Published

Janie Davies

March 13, 2017

11:04 GMT

London