Manganese ore markets weaken, sources wary of supply issues amid Omicron variant

Manganese ore prices reduced in the week ended Friday November 26 following the fall in portside prices, the ongoing fall in freight rates and a softening South African rand.

The new Omicron variant of Covid-19 discovered in Botswana and subsequently in South Africa last week has led some participants to be wary of possible supply disruptions in the world’s largest manganese ore supplier.
Fastmarkets’ calculation of the manganese ore index 37% Mn, cif Tianjin fell by $0.09 per dry metric tonne unit (dmtu) to $4.71 per dmtu on Friday, from $4.80 per dmtu the previous week.
Fastmarkets’ calculation of the index for manganese ore 37% Mn, fob Port Elizabeth moved down by $0.06 per dmtu to $3.46 per dmtu on Friday, from $3.52 per dmtu the previous week.
“We have had no inquiries this week but when we have been in contact with buyers they point out the weakening ZAR and freight rate,” a producer source said. “Buyers want the savings to be passed over to them.”

The freight rate was calculated...

Published

Jon Stibbs

Siyi Liu

November 29, 2021

14:06 GMT

London, Shanghai