Renewed demand, sparked by lower offers in the past two weeks, shifted the seaborne manganese ore market to an uptrend this week, against the backdrop of support for portside prices and a strengthening performance in silico-manganese futures.
Fastmarkets' manganese ore index 37% Mn, cif Tianjin, ticked up by 9 cents to $4.36 per dry metric tonne unit (dmtu) on Friday April 23, from $4.27 per dmtu a week earlier.Buyers attributed the renewed demand for low-grade manganese ore to the currently profitable alloy prices that have enhanced alloy smelters' willingness to accept the offers, and to trading houses' move to push down their average costs. These...