GLOBAL MANGANESE WRAP: Low-grade ore prices change direction amid rising port, alloy prices

The seaborne market for low-grade manganese ore has recorded its first increase since April 5, supported by rising port prices and strength downstream.

Seaborne 37% ore prices rise for the first time since April 5 Seaborne 44% prices hold Chinese silico-manganese prices keep rising Indian silico-manganese prices tick up European alloy prices flat at 2019 lows US manganese alloys drift lower in sluggish market Low-grade seaborne manganese ore prices showed signs of recovery from a 10-week decline on Friday June 28 amid higher port prices and stronger alloy prices. Fastmarkets’ 37% manganese ore index, cif Tianjin, rose by 4 cents to $5.30 per dry metric tonne unit (dmtu). Fastmarkets’ 37% manganese ore index, fob Port Elizabeth, edged up by 1 cent to $4.60 per dmtu. Liquidity was light - most producers have sold out for July, although some raised offers for August delivery. Recent poor sentiment has reversed due to recovering Chinese silico-manganese prices and declining port inventories. Fastmarkets’ Chinese silico-manganese ex-works price rose to 7,450-7,550 yuan ($1,085-1,100)...

Published

Janie Davies

Chris Kavanagh

Susan Zou

Declan Conway

Jon Stibbs

July 02, 2019

06:58 GMT

London, Shanghai, Galway, New York