Global Manganese Ore suppliers have raised offers in line with rising Manganese Alloy prices in China.
Although, the trade levels for alloys in China is thin as buyers have embraced a cautious step towards the same. Complying with the pollution-curbing policy, the production of Manganese Alloy in the country has been reduced significantly.
However, despite thin trading, rising offers for Manganese alloys in China has triggered a bullish sentiment among the Ore suppliers. “The limited number of alloy producers have witnessed high margins recently due to increasing alloy prices, and in line with the same, the Ore traders have also raised their offers,” said an importer. This in result has encouraged the miners to raise their offers as well, he further added.
Furthermore, another source mentioned that the Chinese traders are unwilling to compromise their margin by selling it at low prices while they have purchased the same earlier when the prices were higher.
SteelMint assessed imported Manganese ore offers at USD 6.5/dmtu CIF India for 37% South African Semi-Carbonate Ore, USD 6.95/dmtu CIF India for 44% ore from Gabon and USD 7.25/dmtu CIF India for 46% Australian Manganese Ore.
Manganese Alloy Trend in India
The trade levels of Manganese alloys in India is also restricted by the buyer’s appetite, weighing down the market as a whole. However, unlike the Chinese market, the prices of Manganese alloys in the Indian market are observed to be under pressure.
Considering the trade levels of manganese alloy in India, the rising ore prices are likely to deter buyers in India from taking strong positions.
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