Manganese ore price uptrend continues after miners raise offers further

Manganese ore prices rose again during the week to Friday March 5 after several miners raised offer prices.

Prices continued to be driven by rising freight costs as well as currency fluctuations and concerns about lower South African exports in the coming months.
Fastmarkets’ 44% cif Tianjin, manganese ore index moved up by 37 cents per dry metric tonne unit (dmtu) to $5.50 per dmtu on Friday, from $5.13 per dmtu previously.
Fastmarkets’ 37% cif Tianjin, manganese ore index rose by 17 cents to $4.94 per dmtu on Friday, from $4.77 per dmtu a week earlier.
Fastmarkets’ 37% manganese ore index, fob Port Elizabeth increased by 14 cents to $3.69 per dmtu on Friday, from $3.55 per dmtu previously.
There were reports of buyers preferring to purchase material that would arrive relatively quickly, rather than being subject to longer shipping times, suggesting a need for more prompt material.

Still, bearish sentiment remained among buyers due to planned production...

Published

Janie Davies

Siyi Liu

March 08, 2021

15:47 GMT

London