The price of seaborne manganese ore has surged more than 60% over the past three weeks, to its highest level since early 2013, on rising Chinese demand for imported supply from spot market.
Reduced supply of South African ores is the prime reason for increase in ore prices. According to customs data released by South African government it was noted South African manganese ore exports have dropped by around 23% in August as compared to July 2016. South Africa is one of the largest exporter of manganese ore which exports around 11-12 MnT annually.
Offers for Gabon’s 44% ore were heard concluded at US$ 6.20/dmtu CIF China, for December shipments. There are no offers for Indian market at the moment but indicative offers should be around US$ 6.35/dmtu CIF India, sources said.
Similarly South African carbonated ore of 37-38% Mn was heard settled at US$ 7.00/dmtu CIF China. No trades were heard for Indian market, but market people expect prices to be in the range of US$ 7.15-7.2/dmtu CIF India.
China Imports Vs Monthly Average Prices
India Imports Vs Monthly Average Prices
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