Seaborne manganese ore strength continues despite falling alloy prices in China

Strengthening sentiment from limited supply sent the market for low-grade and high-grade manganese ore higher in the week to Friday October 29, despite weaker ore prices at ports and falling silico-manganese markets in China.

Fastmarkets' manganese ore index 37% Mn, cif Tianjin was calculated at $4.83 per dry metric tonne unit (dmtu) on Friday, up 6 cents, or 1.3%, from $4.77 per dmtu a week earlier.
Fastmarkets' index for manganese ore 37% Mn, fob Port Elizabeth was $3.26 per dmtu on the same day, up 15 cents, or 4.8%, from $3.11 per dmtu a week earlier.
Fastmarkets' index for manganese ore 44% Mn, cif Tianjin was $5.58 per dmtu on Friday, up 3 cents, or 0.5%, from $5.55 per dmtu a week earlier.
Liquidity was relatively light for both grades of material, but bids were reported as high as $5.00 per dmtu for semi-carbonate material, indicating that some buyers expect the market to strengthen further.

"Silico-manganese production appears to be increasing and this will increase demand for ore," a producer source said....

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