The recent rebound in manganese ore prices was partly due to a consumer backlash losing momentum because a recent ore price decline had outpaced that of silico-manganese, market sources told Metal Bulletin.
Manganese alloy smelters have held a series of meetings in recent months in an effort to dictate manganese ore price ceilings, citing squeezed margins and warning of possible production cuts. The smelters had successfully capped an earlier rally that took low-grade ore prices above $8 per dry metric tonne unit (dmtu) in March, by agreeing not to buy material above that level. At the time, the smelters were facing rising costs and a slump in prices for their manganese alloys. In the month prior to the March smelter meeting, low-grade manganese ore prices rose...