Huge Valuation Gap: OMH vs Press Metal, page-2

Good prices for manganese ore and higher prices for silico manganese.

	Column 1
0	South32 Drastically Raises Mn Ore Price as June Shipment
1	= Price of Australian lump ore is US$6.71 and price of fine ore with Mn being 48% is US$6.35 =[/B]
2	According to the local news report in China, recently South32, a subsidiary of BHP Limited (BHP), concluded manganese ore contract as June 2020 shipment meant for China at a price drastically increased from the previous contract price as April shipment (Hereinafter, the price is per dmtu per 1% of Mn).The price of Australian manganese ore lump with Mn being 45.5% (GEMCO grade) is US$6.71, up by US$2.36 from the previous price, and the price of fine ore with Mn being 48% is US$6.35, up by US$2.23 ditto.Although the inventory of the imported manganese ore at head of the major ports in China sill keeps a high level, each manganese mining company submitted manganese ore price as June shipment at the raised price because of the following reasons: (1) South Africa, a major producing country of manganese ore, extended a period of a lockdown; (2) it is highly expected that steel production in China will recover; and (3) The price of silico manganese produced domestically remains high.