Low-grade manganese ore indices leapfrog 44% price on pent up demand

The low-grade seaborne manganese ore price in China rocketed by 32.1% week on week on Friday April 24 after some buyers accepted the first offer made since South Africa went into lockdown on March 26.

Fastmarkets' manganese ore index 37% Mn, cif Tianjin soared by $1.65 to $6.79 per per dry metric tonne unit (dmtu) on Friday, hitting a new high since November 23, 2018, when the index was $6.84 per dmtu.
Fastmarkets' manganese ore 37% Mn, fob Port Elizabeth surged by 36.6% or $1.69 per dmtu to $6.31 per dmtu on the same day, a new high since the index was $6.52 per dmtu on April 27, 2018.
"I think there is panic around as there won't be a lot of material flowing between now and the end of June as we are all at 50% and port loading has been very slow this week," a producer said.

Several Chinese ore traders and alloy smelters placed orders for material for June or July. Additionally, some traders built positions in expectation of increased demand in...

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