Manganese ore grades diverge amid higher offers for 44%, poor demand for 37%
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High-grade manganese ore prices rose on Friday April 12 after some buyers accepted producer offer prices above the previous week’s index.
Fastmarkets’ 44% manganese ore index, cif Tianjin, rose by 10 cents or 1.6% to $6.53 per dry metric tonne unit (dmtu).
The narrow spread that had developed between high- and low-grade ore widened due to the higher accepted offer prices for 44% ore and weak demand for 37% ore.
Another producer secured a low-volume deal at an offer price rolled over from March but still above the previous week’s index, which helped support the market.
Fastmarkets’ 37% manganese ore index, fob Port Elizabeth, fell by 8 cents or 1.4% to $5.45 per dmtu on April 12.
Fastmarkets’ 37% manganese...