Chinese SiMn prices jump amid futures speculation, supply constraints
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Low-grade Mn ore prices rally
Low-grade manganese ore prices tracked the precipitous rise of Chinese futures and spot silico-manganese prices against the backdrop of tighter supply in the country following news of stricter production curbs in Ningxia province.
Metal Bulletin’s 37% manganese ore index, fob Port Elizabeth, rose by 54 cents or 12.2% week on week to $4.97 per dry metric tonne unit, equal to $5.67 per dmtu on a cif basis.
Miners and traders reported a price range of $5.40-5.95 per dmtu cif China last week.
The wider price range is due to the rapid increase in prices throughout the week. Deals were reported near the low end of the range on December 5, while on the following day, several deals had been heard at...