Low-grade ore prices tick upward
High-grade ore prices weaken slightly
Manganese alloy prices hold in India, Europe
US alloy prices soften despite uptick in SiMn activity.
Manganese ore prices rose on Friday February 8 because of higher offers issued by producers.
Fastmarkets’ 37% manganese ore index, cif Tianjin, rose by $0.11 per dry metric tonne (dmtu) to $5.82 per dmtu.
The corresponding 37% manganese ore index, fob Port Elizabeth, went up by $0.16 per dmtu to $5.27 per dmtu.
But the 44% manganese ore index, cif Tianjin, dropped by $0.02 per dmtu to $6.43 per dmtu.
“I am seeing signs of recovery and upward movement in the market,” a trader told Fastmarkets.
In addition to raising their offers, some producers secured sales of off-grade material at higher prices.
News that major ore producer Ghana Manganese has been ordered to stop production by February 15 sparked speculation of a...