JOGMEC to Release Ferromanganese from National Stockpile

Japan Oil, Gas and Metals National Corporation (JOGMEC) announced on Wednesday the corporation sells 11,000 tonnes of ferromanganese, which comes from Japanese national stockpiling. JOGMEC will hold an open tender for ferromanganese at the head office in Kanagawa Prefecture, Japan on July 20. This is the second sales of manganese by JOGMEC since April 2004. JOGMEC is an incorporated administrative agency established by Japanese government to assist upstream activities and to promote national stockpiling for mineral resources and energy.According to JOGMEC, ferromanganese price jumped up to record 220,000 yen per tonne in mid June from 120,000 yen in early May. JOGMEC decided to sell ferromanganese stockpiling as much as 11-day national consumption from total 31.8-day valued stocks.