Manganese Ore offer prices have increased for October shipments, supported by strong demand from India and China.
Tight supply of Manganese ore from South Africa and Gabon, as well as steady demand from alloys smelters in China and India on account of a surge witnessed in Manganese Alloy prices, supported the hike in prices. Moreover, Manganese Ore stocks are reportedly fast depleting at the ports. Australian 46% and Gabon 44% Ore are now being offered at USD 6.8/dmtu and USD 6.5/dmtu CIF India respectively, and South African 36-37% Carbonate ore at around USD 5.65/dmtu CIF India for October shipment.
Price of Manganese Alloys is holding firm in India, and demand for Manganese Ore has increased as a result. Also, Manganese Ore consumption is likely to stay firm in the near term as Manganese Alloy production in China is expected to rise in China before the environmental inspections intensify, as the said country tries to curb air pollution before the winter months.
International prices of Manganese Ore are mainly driven by Chinese demand and which is expected to remain firm at least for the remainder of the current quarter.
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