Manganese ore prices increased over the past week when producers raised their offer prices while market participants in China were celebrating the Lunar New Year holiday.
Low-grade ore prices tick upward High-grade ore prices weaken slightly Manganese alloy prices hold in India, Europe US alloy prices soften despite uptick in SiMn activity.Manganese ore prices rose on Friday February 8 because of higher offers issued by producers.Fastmarkets' 37% manganese ore index, cif Tianjin, rose by $0.11 per dry metric tonne (dmtu) to $5.82 per dmtu.The corresponding 37% manganese ore index, fob Port Elizabeth, went up by $0.16 per dmtu to $5.27 per dmtu.But the 44% manganese ore index, cif Tianjin, dropped by $0.02 per dmtu to $6.43 per dmtu."I am seeing signs of recovery and upward movement in the market," a trader told Fastmarkets.In addition to raising their offers, some producers secured sales of off-grade material at higher prices.News that major ore producer Ghana Manganese has been ordered to stop production by February 15 sparked speculation of a possible price spike, but...