Manganese is the key driver and Jupiter is now a manganese play...

Manganese is the key driver and Jupiter is now a manganese play with iron ore prospects thrown in for nothing.

China rules the world of steel - the biggest producer, biggest consumer and until last year the biggest exporter. Nine out of every 10 tonnes of manganese ore mined goes into the making of steel, and almost half the world's steel production is based in China. China also produces most of the world's supply of manganese, but as its steel output accelerates and its domestic ore supplies dwindle, China is obliged to import more manganese from abroad. In August last year, China for the first time became a net importer of manganese.

But Chinese demand rules the world of manganese, which is concentrated in Australia and two southern African countries, Gabon and South Africa; and also the price of manganese; and thus, the share price of the manganese mining companies. Based on projections of growth in Chinese steel output, a recent report by investment bank Macquarie is forecasting roughly 20% annual growth in the price of manganese for the next three years.


http://www.atimes.com/atimes/Central_Asia/LC23Ag01.html