South African manganese miners have started to raise prices in line with rising costs, including those incurred amid severe weather.
Fastmarkets’ manganese ore index, 37% Mn, cif Tianjin
, rose by $0.12 week on week to $4.77 per dry metric tonne unit (dmtu) on February 26.
Heavy rains between December and February caused flooding, damage to rail infrastructure and delayed shipments, which led to demurrage bills.
Soaring freight rates have been the main trigger for rising manganese ore prices in recent weeks
, followed by a stronger South African rand, which means that miners in the country earn less in their local currency when they sell in dollars.
Market sources expected the extent of the weather-related disruptions to be seen in the coming weeks, in the form of lower export volumes.
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