High manganese ore prices and price dislocation between ore and alloy will cause further alloy market uncertainty, benefitting integrated producers, mining group OM Holdings (OMH) said in its annual report.
Manganese ore markets soared in late 2017 and the first quarter of 2018, prompting a backlash among manganese alloy smelters in China when prices breached $8.00 per dry metric tonne unit (dmtu) on a cif basis, leaving alloy prices lagging. Metal Bulletin's 37% manganese ore index, cif Tianjin stands at $7.89 per dmtu, down from this year's high of $8.21 per dmtu on March 16. "Last year, we assessed...