Platts reported that prices for manganese ore delivered to China rose 12 to 15 percent week-on-week on Friday. The sizable increase came on the back of strong Chinese demand and concerns about supply.
As quoted in the market news:
Platts assessed its weekly 44% manganese ore price at $2.90/dmtu CIF Tianjin on Friday, up from $2.60/dmtu last week. The assessment for 37% manganese ore stood at $2.70/dmtu, up from a $2.35/dmtu, same basis.
Market talk is that Australian 44%-46% lumps are currently being offered at $3-$3.05/dmtu for April shipments, CIF China basis, with Australian fines heard quoted around $2.80/dmtu, multiple market participants agreed Friday.
No offers were heard for Gabon 44% ores on Friday, while quotes for South African ores were pegged around $2.80-$3.00/dmtu for April-May shipments, sources added.
A Shaanxi consumer source said:
It’s madness now, and prices are still on the rise … there are very limited stocks around and the Chinese are scrambling to buy. We heard South Africa’s UMK has no more April stocks and may soon start offering May shipments at above $3.00/dmtu, so anything is possible.