Manganese ore prices to rise in first qtr.
Dec 28, 2012 | 11:37 AM
| Janie Davies
Tags
manganese ore,
ferromanganese,
Janie Davies
LONDON — Global manganese ore prices will continue to rise in the first quarter on strong Chinese demand, tighter supply and low inventories, market participants predict.
"It’s certainly firming and there is a tightness," one trader told AMM sister publication Metal Bulletin. "We’ll continue to see an increase over the first quarter. There’s a high level of Chinese consumption and I think in (the second half of 2012) people priced in too much negativity."
Metal Bulletin’s index price for 38-percent manganese ore f.o.b. South Africa rose to $4.06 per dry metric ton unit (dmtu) of metal contained on Dec. 21 from $3.94 the previous week and a fourth-quarter low of $3.77 in mid-October. Metal Bulletin’s index price for 44-percent manganese ore c.i.f. Tianjin was $5.13 per dmtu of metal contained, down slightly from $5.15 a week earlier but well above the fourth-quarter low of $4.91 in October. ....
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