Low-grade manganese ore prices sailed through the $8 per dry metric tonne unit (dmtu) mark on Friday March 2 in China after producers ratcheted up their offers and on continued demand.
Low-grade ore prices exceed $8 per dmtu in ChinaHigh-grade ore market lags in thin tradingSmelter backlash fails to slow rallyAlloy prices hold in most regionsUS ferro-manganese prices edge higher Low-grade manganese ore prices jumped as much as 57 cents per dmtu in the week to Friday March 2 after miners hiked offer prices amid strong demand. Following a backlash from manganese alloys smelters over high prices, an agreement not to buy the raw material above $8 per dmtu collapsed after no more than a day, Metal Bulletin reported on Friday. Metal Bulletin's 37% manganese ore index, cif China, surged 7.6% week on week to $8.08 per dmtu. Metal Bulletin's 37% manganese ore index, fob Port Elizabeth rose 8.2% in the week to Friday to $7.41 per dmtu, fob Port Elizabeth. "The market really gained momentum towards the end of the week. I had...