Stronger Chinese alloy market boosts seaborne manganese ore prices

Seaborne prices of both low- and high-grade manganese ore in China recorded strong gains in the week ended Friday February 7 alongside rising portside ore and alloy prices.

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...

Published

Jon Stibbs

Amy Lv

February 10, 2020

13:31 GMT

London, Shanghai