Fastmarkets’ price assessment for manganese, 99.7% electrolytic manganese flake, in-whs Rotterdam
, rose by 3% to $3,600-3,710 per tonne on June 23, up from $3,500-3,600 per tonne in the previous session.
Prices have increased steadily since the start of the year, but the uptick intensified in May amid globally high freight rates, and delays driven by equipment and space shortages that led to a draw on stocks in Rotterdam. The metal started the year at $2,120-2,280 per tonne and its price has increased by 52% since then.
“No one has built stocks in Rotterdam. Traders could have taken more units but they did not, mostly because of the uncertainty with shipments,” a European trader said.
“It has been a strange situation for quite a long time. The price has been going up so much, but no one has really taken big positions,...