Market already on the way up without any Ukraine disruption...

Market already on the way up without any Ukraine disruption priced in.

Fastmarkets’ price index for manganese ore 44%, cif Tianjin, was $6.11 per dry metric tonne unit (dmtu) on February 18, an increase of $0.38 per dmtu (6.63%) from $5.73 dmtu on February 11 and a level was last seen in May 2020.
Miners lifted their offers for March-shipment cargoes following an evident price rally in the port markets, primarily because of tightening availability.
Fastmarkets’ calculation of the manganese ore port index, base 44% Mn, range 42-48%, fot Tianjin, China, has risen by 5.60 yuan ($0.88) per dmtu (13.30%) so far this year, to 47.70 yuan per dmtu on February 18 from 42.10 yuan per dmtu on January 7.
Buyers, both manganese alloys producers and traders, showed good buying appetite amid expectations for tight spot supply to last into the next few months.