Seaborne high-grade manganese ore prices up 12% on higher offers

Seaborne manganese ore prices jumped by as much as 12% during the week to Friday June 4 after miners hiked offers amid rising freight costs, a stronger South African rand and strength downstream.

Fastmarkets’ manganese ore 44% Mn, cif Tianjin jumped by 58 cents (12.30%) to $5.29 per dry metric tonne (dmtu) on Friday, from $4.71 per dmtu a week prior.
Fastmarkets’ manganese ore index 37% Mn, cif Tianjin rose to $4.72 per dmtu on the same day, up by 22 cents (4.9%) from $4.50 per dmtu a week earlier.
Fastmarkets’ manganese ore 37% Mn, fob Port Elizabeth rose by 29 cents to $3.48 per dmtu on Friday, from $3.19 per dmtu.

The South African rand has been trading higher against the United States dollar, meaning that when South African miners sell in dollars, they earn less back in their local currency, while protracted high freight rates have pushed up...

Published

Janie Davies

Siyi Liu

June 07, 2021

16:21 GMT

Shanghai, London