Imported Manganese Ore prices witnessed a price hike in line with higher offers from Chinese traders that are holding port stock.
The Chinese traders have been offering at higher prices for the material stocked at their ports, than what was available for in the seaborne market. This prompted the global Manganese Ore miners to increase their Manganese Ore prices.
Currently, the prices for 38% South African Corbonate Ore has moved up to between USD 4.6-4.75/dmtu CIF India. Offers from Gabon have also increased, and 44% grade ore is being offered at USD 5.65/dmtu CIF India. Also, the last heard offers for 46% grade Manganese Ore from Australia is stable at USD 5.8/dmtu. However, there is a major shortage of high grade Manganese Ore in China and India, which is likely to push high grade ore prices up in the coming days.
SteelMint assessed that the manganese alloys prices in India and China have been on a downtrend. Hence, it is to be seen if higher Manganese Ore prices can sustain its level following a decline in manganese alloy market, as the demand/supply fundamentals at present don’t support higher Ore prices.
| Domestic and Imported Manganese Ore Price Comparison | ||
| Grade | INR/MT | USD/dmtu |
| MOIL Mn 37.5%, Fe 7% | 11,832 | 4.9 |
| MOIL Mn 44%, Fe 6% | 16,613 | 5.8 |
| Lumps, Mn 38%, South Africa | 11,362- 11,733 | 4.6- 4.75 |
| Lumps, Mn 44%, Fe 5%, Gabon | 16,159 | 5.65 |
| Lumps, Mn 46%, Fe 5%, Australia | 17,342 | 5.8 |
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