Producers of seaborne manganese ore, both 38% and 44% grades, successfully raised their offer prices on a cif Tianjin basis over the week ended Friday September 4, with support from the rise in value of the Chinese yuan, and from rising port and alloy prices, and despite underlying concerns about ore oversupply.
Fastmarkets' manganese ore index, 37% Mn, cif Tianjin, was $4.22 per dry metric tonne unit (dmtu) on September 4, up by $0.15 per dmtu, or 3.7%, from $4.07 per dmtu on August 28.Buyers accepted higher offer prices due to the appreciation of the yuan, which meant...