- South32 lifts ore prices on strong Chinese demand
- Weak demand from steel mills pressures SiMn tags
Imported manganese ore prices in India recorded a slight w-o-w increase. Meanwhile, manganese alloy prices recorded minor price cuts, driven by need-based demand in both domestic and export markets. The overall market sentiment continued to be cautious and subdued.
- Australian high-grade ore: Prices of Australian high-grade (46% Mn) ore rose slightly by $0.09/dry metric tonne unit (dmtu) to around $4.69/dmtu w-o-w.
- Gabonese high-grade ore: Prices of Gabonese high-grade (44% Mn) inched up by $0.08/dmtu w-o-w to $4.38/dmtu.
- South African lumps: Prices of South African lumps (37% Mn) rose $0.09/dmtu w-o-w to $4.14/dmtu, a 1-month high.
Market overview
South32 raises manganese ore rates; GEMCO mine set for full production: South32 has raised its September 2025 offers for manganese ore, with the South African 37% grade priced at $4.05/dmtu (up $0.15/dmtu) and the Australian 42% grade at $4.45/dmtu (up $0.10/dmtu). The hike is attributed to stronger Chinese silico manganese prices, an uptick in demand, and renewed optimism in the steel market. Additionally, South32 expects full production at its GEMCO mine from September, following its recovery from cyclone-related export disruptions.
Manganese alloy prices see minor corrections: Indian silico manganese (60-14) prices slipped slightly by INR 150/t ($2/t) w-o-w to INR 72,300-72,800/t ($836-842/t) across Durgapur, Raipur, and Vizag. The minor decline was driven by weak demand from steel mills and limited new inquiries, with a major domestic deal at reduced rates adding further pressure.
Export prices of silico manganese (65-16) also dipped by $1/t w-o-w to $939/t FOB Vizag/Haldia.
Meanwhile, ferro manganese (HC 70%) prices held steady, with a minor drop of INR 50/t ($1/t) w-o-w to INR 71,100/t ($822/t) exw-Durgapur. Prices in Raipur remained unchanged. The stability in ferro manganese reflects balanced supply-demand conditions, steady steel production, and consistent buying from manufacturers.
A key Durgapur smelter informed BigMint that South32’s recent hike in manganese ore prices is set to elevate production costs for alloy manufacturers. While alloy prices could see a mild uptick if steel demand rebounds, weak domestic buying and cautious sentiment may cap any significant gains. Export competitiveness, particularly for silico manganese, also faces pressure as global buyers show resistance to higher rates, keeping the market delicately balanced.
Cargo arrivals in India up w-o-w: Manganese ore imports into India increased slightly by 11% w-o-w over 2-8 July, with shipments totalling 118,125t.
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