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Friday, 21 December 2007

Manganese, selenium & molybdenum prices

Manganese prices jumped more than 15% last week to new record highs of US$4000/t on rising demand from China's steel industry, while bismuth gained nearly 5% to new record peaks on supply shortages.

Selenium surged to 16-month highs, while molybdenum oxide climbed to a seven-month high after China said it would raise export taxes.

Manganese, used to harden stainless steel, has gained nearly 200% since January.

Supply shortages from China have triggered a meteoric rise of more than 250% in selenium prices since last October.

Reinforcing the shortages is growing demand from Japanese and South Korean firms, who are using it as a substitute for lead in the manufacture of TV and computer screens.

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