New Chinese silico-manganese projects entering production in the fourth quarter of 2018 are supporting manganese ore demand and helping to keep the market in balance amid high import volumes from countries including South Africa, market sources said.
Four new projects coming on stream this quarter will add about 2 million tonnes of manganese alloy to China's domestic market over the coming months, Fastmarkets MB understands. These smelters are already buying feedstock, which has helped to support prices in recent weeks, sources said. "I don't see the price dropping because there are mega plants coming into operation at the end of the year and they are stocking up," a market source told Fastmarkets MB. "They're filling their pipelines and, despite record imports from South Africa, they are helping to keep the market in balance."Global manganese ore production hit a record high in August,...