What is surprising is the high port stocks of manganese ore and low prices but the lack of manganese alloys available and high prices.
This is partly due to China clamping down on power usage and pollution. The prices of silico manganese and ferro manganese are at record highs.
In Europe FeMn is US$1,700+/tonne. Alloy producers like like OMH are making a fortune at current prices. There is a complete disconnect between Mn ore prices and manganese alloy prices. Ferro-Manganese European Mn78% min US$1,735/t vs US$1,735/t
The North American ferroalloy market was besieged with RFQ due by no latter than the end of next week. The main concern by buyers was to book early enough to make sure they get their first supplies by January. “The suppliers we are working with assured us that if we buy now there won’t be any left come September."
JMS Price at posting:
25.5¢ Sentiment: Hold Disclosure: Held
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