Manganese ore ‘squeeze’ traders amass 500,000t of chrome ore in China

Chinese traders who squeezed manganese ore inventories over the past year have turned their attention to chrome ore, accumulating at least 500,000 tonnes of material, market sources told Metal Bulletin.

Traders built large manganese ore positions when prices were low in early 2016, allowing them to squeeze inventories later in the year, leading to a five-fold increase in prices. The same traders have used a similar tactic in chrome ore over the past two months, buying large volumes of South African material at about $130-150 per tonne, after prices dropped sharply from $355 per tonne...

Published

Janie Davies

July 13, 2017

14:47 GMT

London