Bullish ferroalloys market in China drives Mn ore prices higher

摘要

Manganese ore prices were weakening from mid-July to mid-August, due to subdueddemand in China, as detailed in last month’s report. Prices fell to $6.28 /dmtu and $6.60/dmtu, for 36-38% Mn and 44% Mn grade respectively by mid-August.However, manganese ore prices subsequently started rising due to bullish sentiment in theChinese ferroalloys market. Silico-manganese futures prices increased sharply throughAugust, from around RMB8,200 /t at the start of the month to RMB9,000 /t at month end. Webelieve this was primarily driven by speculation amid sharply rising rebar prices, expectationsof higher silico-manganese unit consumption and reports of silico-manganese markettightness.