Strong rand, soaring freight to underpin manganese ore prices

Manganese ore prices are likely to remain supported due to the strong rand and soaring freight rates, as well as logistical disruptions and healthy downstream demand, sources said.

Fastmarkets manganese ore index 37% Mn, cif Tianjin was last calculated at $4.65 per dry metric tonne (dmtu) on Friday February 19, up nearly 14% over the past six months and about 4% year on year.
But a stronger rand means miners in the country, which produces the largest share of the world’s manganese ore, earn less in their local currency today from dollar-denominated sales than in either of the comparative periods.

The rand was trading at 14.63 rand to $1 at the time of writing, compared with 17.14 rand to $1 on August 24, 2020 and 15.07 rand to $1 on February 24, 2020, according...

Published

Janie Davies

February 24, 2021

17:18 GMT

London