Monthly average prices of manganese ore have fallen steeply. For instance, prices of Mn 37% lumps imported from South Africa fell to a three-year low of $3.78/dmtu in July 2023, similar to levels of $3.83/dmtu recorded in December 2019. On the other hand, Mn 44% lumps of Gabonese origin were at over six-month lows. The price in July was at $4.64/dmtu, similar to $4.63/dmtu seen in November 2022, while Australian lumps (Mn46%) prices were also at over six-month lows at $4.99/dmtu. Similar levels had last been recorded in October 2022 ($4.92/dmtu). Thus, manufacturers of manganese alloys believe that prices have bottomed out and may start to increase in the near term. Hence, they have increased production two-fold in anticipation of the future rise in ferro alloy prices.
