General Discussion - 2022 Catalysts, page-89

Source BnG Mining

In the first two weeks of June, the manganese ore spot market in China saw a significant rise and spot prices at ports remained high. Trading activities in Qinzhou Port remain relatively flat supported by recent inbound deliveries and continues downstream average purchases from plants. Contrary, the price of South African semi-carbonated manganese ore at Qinzhou port remains firm supported by limited supply resulted in an increase of 0.5 RMB/DMTU. South African semi-carbonated manganese ore is generally under the support of high import cost, and the prices are expected to hold firm for the next few weeks.Slowness of the manganese alloy market has limited the acceptance of manganese ore prices by the alloy’s plants. The increased manganese ore prices also put further production cost pressure on factories. Unless silicomanganese futures stabilise to average 9,000 level over the next few weeks, we do not foresee any short-term sustainable price increases for the underlying manganese market.