GLOBAL MANGANESE WRAP: Low-grade ore prices rally on soaring Chinese SiMn futures, spot prices
Low-grade manganese ore prices rallied last week, tracking rapid rises in Chinese futures and spot silico-manganese prices amid production cuts in the country, while high-grade ore prices were relatively stable.
Chinese SiMn prices jump amid futures speculation, supply constraints EU, Indian alloys prices remain level amid inactivity US FeMn prices continue to tumble amid aggressive contract negotiations Low-grade Mn ore prices rally Low-grade manganese ore prices tracked the precipitous rise of Chinese futures and spot silico-manganese prices against the backdrop of tighter supply in the country following news of stricter production curbs in Ningxia province. Metal Bulletin’s 37% manganese ore index, fob Port Elizabeth, rose by 54 cents or 12.2% week on week to $4.97 per dry metric tonne unit, equal to $5.67 per dmtu on a cif basis. Miners and traders reported a price range of $5.40-5.95 per dmtu cif China last week. The wider price range is due to the rapid increase in prices throughout the week.
GLOBAL MANGANESE WRAP: Low-grade ore prices rally on soaring...
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