The prices for low and high grades of seaborne manganese ore diverged further in the week ended Friday August 6, with extensive power restrictions across China continuing to disrupt operations at alloy smelters.
Fastmarkets calculated its weekly index for
manganese ore, 44% Mn, cif Tianjin, at $5.37 per dry metric tonne unit (dmtu) on Friday, up from $5.14 per dmtu previously.
"High-grade ore miners are using many reasons to justify their higher offers for September cargoes," a trader said. "For instance, it is the beginning of their financial year, and demand for manganese ore outside China is robust. In addition, the Covid-19 pandemic is continuing to disrupt production and logistics."
Elsewhere in the manganese ore market, suppliers broadly reduced their offers on September semi-carbonate ores in light of slower consumption among smelters because of the operational problems, while port inventories remained at a comparatively high level despite fewer deliveries being seen last week.
Fastmarkets' calculation of the weekly manganese ore index, 37% Mn, cif Tianjin, nudged downward to $4.59 per dmtu on August 6, from $4.61 per dmtu one week earlier....