Domestic market sentiment was buoyed by Hebei Steel’s silico-manganese purchase price for February
which rose by 600 yuan ($85.70) month on month to 7,200 yuan per tonne. Hebei Steel is China’s second largest steel mill and many silico-manganese market participants in China look to these tenders for price direction.
Some buyers, who had been hesitant in the previous week, bought March-delivery low-grade ore following Hebei Steel’s announcement.
Fastmarkets’ manganese ore index 37% Mn, cif Tianjin
climbed by 21 cents per dry metric tonne unit (dmtu) or 4.9% week on week to $4.48 per dmtu on February 7.
Fastmarkets’ manganese ore 37% Mn, fob Port Elizabeth index
jumped by 29 cents or 8.1% week on week to $3.85 per dmtu the same day.
The fob index is priced using a...