The manganese flake price has been on the rise since May 2021 due to tight availability in the spot market and strong demand from both the steel industry and the renewable energy automobile industry, sources told Fastmarkets.
Fastmarkets' price assessment for 99.7% electrolytic manganese flake basis, fob, China rose to $2,800-2,850 per tonne on July 9, up by 3.70% from $2,700-2,750 per tonne on July 2. The price was up by 13.8% from $2,450-2,520 per tonne on May 7.
The Chinese government added 5% to existing export taxes on ferro-alloys beginning Thursday July 1, market sources told Fastmarkets.
China produces 95% of the world's supply of manganese flake, making the metal highly vulnerable to Chinese policy changes.
"Obviously, the manganese flake...