Ore producers say they are sold out through April
But Chinese consumers signal otherwise
Europe holds, awaits quarterly deals
US markets held in ranges
Major manganese ore producers have pushed up their offer prices against expected firm demand in the steel sector, sources said. The 44% manganese ore index spiked almost 17% week on week to $8.63 per dmtu cif Tianjin on Friday March 9, from $7.54 per dmtu.
Metal Bulletin’s 37% manganese ore index increased 2.2% week on week to $7.57 per dmtu, fob Port Elizabeth.
A new index launched by Metal Bulletin on February 2, which assesses 37% manganese ore on a cif China basis, was also up, currently standing at $8.20 per dmtu, up 1.5% week on week.
“We are sold out for March and for April....we will [make new] offers in the coming week,” an African manganese producer said, adding that a rival producer had offered 44% manganese...