What, really??? Mn ore at $6.50 per Mn unit

Manganese ore prices are on a tear in China and no one is quite sure why. Prices for standard grade (36-38%) ore rose to $6.20-6.40 earlier in the week, up over a $1, and now one major South African miner confirmed a sale at $6.50 per Mn unit. Explanations are lacking though one seller suggested South32 will be shipping less manganese ore to China through January.

Even the sellers think that the price can’t be sustained with the Chinese New Year coming up and domestic steel production lagging.

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