Seaborne manganese ore prices jumped by as much as 12% during the week to Friday June 4 after miners hiked offers amid rising freight costs, a stronger South African rand and strength downstream.
Fastmarkets' manganese ore 44% Mn, cif Tianjin jumped by 58 cents (12.30%) to $5.29 per dry metric tonne (dmtu) on Friday, from $4.71 per dmtu a week prior.The South African rand has been trading higher against the United States dollar, meaning that when South African miners sell in dollars, they earn less back in their local currency, while protracted high freight rates have pushed up...