Jump in freight rates erodes margins on manganese ore shipments

A sharp increase in global freight rates over the past seven to 10 days has eroded margins at manganese ore market participants and caused shipments to be postponed, sources told Fastmarkets.

Freight rates have risen by $5-8 per tonne for routes to China from South Africa, Brazil and the Black Sea amid increased demand for freight from some soft commodity sectors such as soybean and grain, sources said.

Market participants must pay at least $29-30 per tonne to transport ore from South Africa to China and as much as $34 per tonne from Brazil to China, according to the...

Published

Janie Davies

July 11, 2019

13:01 GMT

London

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