The manganese seaborne and portside ore markets diverged during the week to Friday November 5, with the higher-grade cif market strengthening on higher offers and fot prices weakening on the softer alloy market.
Fastmarkets'
manganese ore 44% Mn, cif Tianjin price index was calculated at $5.80 per dry metric tonne unit (dmtu) on Friday, an increase of 22 cents (+3.9%) from $5.58 per dmtu one week earlier
Fastmarkets'
manganese ore index 37% Mn, cif Tianjin price index was calculated at $4.86 per dmtu on Friday, an increase of 3 cents (+0.6%) from $4.83 per dmtu seven days prior.
Fastmarkets'
manganese ore 37% Mn, fob Port Elizabeth price index was calculated at $3.45 per dmtu, up 19 cents (+5.8%) from $3.26 per dmtu a week ago.
The fob price is usually calculated by subtracting the freight rate from the cif price.
Last week, the fob index was supported by a sharp fall in the freight rate from Port Elizabeth to Tianjin, as well as the small increase in the 37% cif price.
Some miners raised...