Seaborne Manganese ore offer prices remain unchanged, as big miners are yet to reveal their offer prices to India for September shipment.
However, miners tested the market with higher seaborne offers to China, tracking the rising silico manganese futures prices and rising demand from China.
Manganese ore prices are firm in the international market due to improved demand of silico manganese in the Chinese domestic market. 44% manganese ore index, CIF Tianjin rose by 1.3% to USD 6.1/dmtu. Also, 37% manganese ore index, FOB Port Elizabeth rose by 3.2% to USD 4.23/dmtu.
Price for South African carbonate Ore is at around USD 5.45/DMTU for Aug’17 shipments. The offer price for 46% Australian Manganese Ore Lumps is at USD 6.5/DMTU CIF India and Gabon 44% grade is assessed at USD 6.25/DMTU CIF India for August shipment.
The supply of imported manganese ore in the Indian market has improved, as quite a few cargoes have reached Indian shores lately.
International prices of manganese ore are mainly driven by Chinese demand and it is expected to remain firm at least for the next month. SteelMint assessed that silico manganese prices in China typically set the direction for manganese ore prices.
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