1. Forget Copper and Gold as Steel-Making Raw Material Outperforms.
- Author
-
Hunt, Paul-Alain
- Subjects
RAW materials ,COPPER ,PIG iron ,GOLD ,MANGANESE ores ,PRICES - Abstract
Manganese, a crucial ingredient in steel production, has seen a significant increase in prices this year due to a cyclone that halted exports from the world's second-largest mine in Australia. Prices of 44% grade manganese ore have nearly doubled since the beginning of the year, surpassing the gains of other commodities such as copper, gold, and tin. The cyclone damaged key infrastructure, and shipments are expected to remain suspended until 2025. The surge in manganese prices was delayed due to stockpiles elsewhere, but supply constraints and elevated prices are expected to continue until the mine is operational again. This has prompted some manganese miners to sell lower grade material for short-term cash flow, and other companies may expedite their projects to take advantage of the higher prices. [Extracted from the article]
- Published
- 2024