Limited supply for February delivery supports seaborne manganese ore indices

Seaborne manganese ore prices in China rose in the week ended Friday January 3 on support from reduced availability of material and improved sentiment after Hebei Steel increased its silico-manganese tender price by more than expected.

The markets for higher and lower grades of manganese ore on a cif China and fob Port Elizabeth basis increased for the fifth consecutive week after some miners limited the volumes available for delivery in February and Hebei Steel raised its purchase price for silico-manganese to 6,600 yuan ($944) per tonne – an increase of 650 yuan per tonne.
The increase in the latest tender price for silico-manganese from Hebei Steel, which is a bit higher than expected by many market participants, is said to be an inevitable result of rising spot terms due to relatively limited cargoes at plants and rising raw materials prices, including those for manganese ore.

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Published

Jon Stibbs

Amy Lv

January 06, 2020

17:16 GMT

London, Shanghai