【Ferro-alloys.com】Strong manganese alloy consumption drives up high-grade ore sentiment

Demand that was better than expected after East Asia’s lunar new year holiday underpinned both the low- and high-grade manganese ore markets over the week ended Friday February 11, with the market for 44% material strengthening considerably in advance of the release of new offer prices.

Fastmarkets’ price index for manganese ore 44%, cif Tianjin, was $5.73 per dry metric tonne unit (dmtu) on February 11, a rise of 4.95% from $5.46 per dmtu one week earlier.

Consumers, especially those in Inner Mongolia, had stockpiled feedstock in expectation that production would be constrained due to Beijing hosting the Winter Olympics.

But operations in the ferro-alloys heartland were in fact relatively unaffected, with many producers running low on feedstock, market participants told Fastmarkets.

In addition to buoyant demand, tightening availability of high-grade manganese ore fuelled a sharp price rally in the port markets.Fastmarkets’ calculation of the manganese ore port index, base 44% Mn, range 42-48%, fot Tianjin, China, jumped by 2.90 yuan per dmtu (+6.61%) to 46.80 yuan ($7.35) per dmtu, from 43.90 yuan per dmtu the previous...
 

• [Editor:zhaozihao]