Chinese electrolytic manganese spot prices climbed further this week -- the second weekly price gain in a month -- as demand for the ferroalloy got a boost from strengthening steel market sentiment.
Platts assessed the price of 99.7% manganese at $2,050-2,100/mt FOB China Thursday, an increase of $30/mt or 1.5% from August 1. There was no assessment August 8 due to the Eid al-Fitr holiday in Singapore.
Tycoon Manganese Group, a major producer based in Shenzhen, sold over 120 mt of electrolytic manganese to buyers from the US at around $2,080/mt FOB China this week, a company source said.
