Strength in the manganese alloy market supported portside and seaborne ore prices for January in China in the week to December 11, sources said.
Fastmarkets' manganese ore index 37% Mn, cif Tianjin rose by 10 cents or 2.7% week on week to $3.87 per dry metric tonne unit (dmtu) on Friday from $3.77 per dmtu the week previous.
Fastmarkets' corresponding manganese ore index 37% Mn, fob Port Elizabeth increased by 11 cents or 3.6% week on week to $3.19 per dmtu on the same day from $3.08 per dmtu previously.
The seaborne price of low-grade manganese ore rose for the second consecutive week after miners successfully achieved deals at higher offer prices for January shipments, Fastmarkets heard.
Fastmarkets' manganese ore index 44% Mn, cif Tianjin climbed by 2 cents week on week to $4.19 per dmtu on Friday, up from $4.17 per dmtu the week before.
A number of Chinese traders and alloy smelters were interested in securing seaborne low-grade cargoes for January following a good...