Manganese ore prices in China rallied this week, led by a rise in Chinese silicomanganese prices.
The Platts weekly assessment for 44% ores was $4.8/dmtu CIF Tianjin Friday, up from $4.6/dmtu CIF Tianjin last week, while 37% manganese ores moved to their highest since 2015 at $4.3/dmtu, CIF China, up from $3.90/dmtu CIF Tianjin.
Market participants said South32's Australian 45%-46% ores were offered at $5.2/dmtu, CIF China. While no confirmed trades were heard, several buyers said this was a tradeable price.
South African 37% ores were heard being traded at $4.2-$4.4/dmtu, CIF China. Sources said they heard no offers of Gabon 44% ores in China.
One silicomanganese producer said he heard offers of Australian ores at Tianjin port going for Yuan 60/dmtu, ex-Tianjin port, but was unable to buy. "Traders won't sell", he said.
Offers at Tianjin port for Australian ores were heard in a range of Yuan 60-70/dmtu, ex-Tianjin, Gabon ore at Yuan 57/dmtu, ex-Tianjin, and South African 37% at 37-46/dmtu, ex-Tianjin.
Prices for silicomanganese 6517 were said to be rising quickly during the week. Silicomanganese producers said prices had risen to Yuan 6,500-7,100/mt as power costs were heard to be moving up.
One trader outside China said ores were being bought quickly by larger trading houses in China, and sold at higher prices within China. Supply of higher grade ores was also short.
