Rising freight rates whittle away manganese producer margins

A sharp rise in freight prices is eating into South African manganese producer profits by exacerbating the negative impact of the strengthening rand against the dollar.

Freight rates have been high for several months amid increased demand for vessels and competition for freight space from other commodities.

Manganese market participants told Fastmarkets that freight rates have risen rapidly over the past week, with offers for a single port shipment from major South African ports to China ranging from $50 per tonne to $60 per tonne, with one quote reportedly given at $62.50 per...

Published

William Clarke

June 17, 2021

15:24 GMT

London