GLOBAL MANGANESE WRAP: Silico-manganese market in China supports 37% ore prices

A higher tender price for silico-manganese in China for July improved sentiment and increased prices for low-grade manganese ore in the week ended on Friday July 5.

Low-grade ore price increases in China High-grade ore in China falls amid low liquidity European alloys soften US market rolls over for public holiday Low-grade seaborne manganese ore prices rose for the second consecutive week after China’s Hebei Steel increased its monthly silico-manganese tender price for July, raising it by 300 yuan ($44) per tonne month on month. The higher tender price for downstream silico-manganese supported ore prices, with alloy smelters needing to restock to maintain operations. “With the latest [tender price] adjustment, Chinese alloy plants can generally make handsome margins and they have to restock ore material to maintain normal production,” a trader said.  Hebei Steel released a purchase price for silico-manganese of 7,900 yuan per tonne for July delivery, up 3.9% from 7,600 yuan per tonne for June, market sources told Fastmarkets. Following this announcement, Fastmarkets’ manganese ore 37% Mn, cif Tianjin, index climbed 17...

Published

Declan Conway

Jon Stibbs

Amy Lv

July 08, 2019

17:52 GMT

London, Shanghai, Galway