Freight rates have been rising steadily since December but have risen by at least 20% in the past week, according to the latest freight quotes heard by Fastmarkets.
In the week to February 18, manganese ore market participants reported freight rates as high as $39 per tonne from Port Elizabeth in South Africa to China for single-port discharge, and $52 per tonne for dual-port discharge.
For producers of 37% manganese ore in South Africa, this would translate to freight prices as high as $1.05-1.06 per dry...
