China’s manganese ore imports rise 5% y-o-y in CY’23

Manganese Import/Export

China’s total imports of manganese ore for full-year 2023 rose by 1.49 million tonnes or 5% on year to reach 31.35 million tonnes, according to the latest data from the General Administration of Customs (GACC).
The higher import volume was mainly attributed to the increase in demand for this ore from domestic manganese alloy smelters that stepped up production last year. This in turn encouraged overseas mines to ship more manganese ore to China, Mysteel Global noted.

During last year, silico manganese output among the 187 Chinese smelters under Mysteel’s regular tracking registered 11.52 million tonnes, jumping by 1.87 million tonnes or 19.4% compared with the previous year and marking the highest since Mysteel began regularly surveying their output in 2008. The sampled smelters host 99% of China’s SiMn smelting capacity.

However, during December alone, China’s imports of manganese ore plunged by 692,067 tonnes or 23.2% from November to 2.29 million tonnes, the GACC data showed, suggesting the limited volume of manganese ore delivered to China with the poor performance in prices of this ore in China.

China’s manganese ore prices hovered low last month as silico manganese smelters tried to cut their procurement prices, given their shrinking profit margins with the persistent weakness of silico manganese prices, Mysteel Global learned.

As of December 29, the price of South Africa-origin 36.5% grade manganese ore at North China’s Tianjin port under Mysteel’s assessment came in at Yuan 30.3/dmtu ($4.2/dmtu) including the 13% VAT, still a very low level though the price had recovered by Yuan 0.3/dmtu compared with the end of November.

By end-December, China’s national price of 6517 silico manganese under Mysteel’s assessment registered Yuan 6,250/t including the 13% VAT, slipping by Yuan 62/t on month.

With the lower import volume in December, inventories of manganese ore at China’s major ports had emptied to 5.48 million tonnes as of December 29, lower by 527,000 tonnes or 8.8% from one month earlier, according to Mysteel’s weekly survey.

Note: This article has been written in accordance with an article exchange agreement between SteelMint and Mysteel Global.