Fastmarkets’ manganese ore index 37% Mn, cif Tianjin
, climbed week on week to $4.18 per dry metric tonne unit (dmtu) on January 10, up by 5 cents per dmtu.
The corresponding index for manganese ore 37% Mn, fob Port Elizabeth
, nudged upward by 2 cents per dmtu week on week to $3.46 per dmtu on the same day.
Some miners of such low-grade ores have sold remaining volumes for February delivery at a higher price over the past week.
“We intended to place orders [for 37% material] at less than $4.40 per dmtu, but miners were quite resolute in not compromising, so we had to accept $4.40 per dmtu in the end,” a buyer source in China said.
Producers reported continuing buying interest...