TISCO manganese purchasing price surges in Aug tender

SHANGHAI, Jul 26 (SMM) –  A shortage of manganese resources in the market drove Taiyuan Iron & Steel (TISCO) in Shanxi province to sharply raise its purchasing price of manganese in its August tender, SMM learned.

The August price stood at 21,500 yuan/mt, significantly up 6,700 yuan/mt from the tender for July. The price includes tax and transport, and payments will be made in both acceptance and cash. The procurement volume stood at 1,200 mt.

As of July 26, SMM assessed the manganese price in major producing areas at 19,200-19,300 yuan/mt, up over 5,000 yuan/mt from a month ago.

Short supplies also accumulated orders across manganese producers and sellers held offers firm. Meanwhile, some producers suspended production on environmental woes despite high profit margins, and this further tightened supplies of manganese.