GLOBAL MANGANESE WRAP: Ore, alloys prices find strength in Asia, USA; Europe flat in summer lull
Manganese ore and alloy prices mostly held firm last week, as markets defied the traditional summer lull to post gains everywhere except Europe.
• Manganese ore indices up on strong trading activity
• Silico-manganese futures prices supported by physical demand
• US ferro-manganese prices at 86-month high
• Traditional summer slowdown bites in Europe
Manganese ore prices gained slightly last week, buoyed by a pick-up in traded volumes and strong sentiment from the steel sector.
Metal Bulletin’s 37% manganese ore index climbed to $4.10 per dmtu fob Port Elizabeth on Friday July 14 from $4.06 a week earlier. The 44% index reached $6.02 per dmtu cif Tianjin, up from $5.85.
The market remained divided on price direction, with some highlighting a potential reduction in demand from India, while others noted that strong steel expectations in China have supported sentiment.
Spot traded volumes surged last week, even as talk of a large stock build-up in China spread.
Tshipi Manganese price, page-61
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