- Eramet, Jupiter report production decline
- Weekly cargo arrivals up 37%
Global manganese ore prices have edged up slightly for higher-grade manganese ore, primarily driven by reduced production volumes by major miners amid rising operational costs.
- Australian high-grade ore: Australian high-grade (46% Mn) ore witnessed an increase of $0.03/dmtu to $5.24/dmtu due to supply constraints.
- Gabonese high-grade ore: Prices of Gabonese high-grade (44% Mn) ore edged up by $0.03/dmtu to $4.9/dmtu.
- South African lumps: South African lumps (37% Mn) saw a slight down of $0.02/dmtu to $4.62/dmtu.
Market overview
Manganese ore market experiences tightening of supply: The global manganese ore market is witnessing a decline in production volumes, largely driven by increasing operational costs that have limited the availability of high-grade ore, subsequently supporting the price of imported ore. Key players in the industry, such as Eramet, reported a significant decline in their Q4 CY’24 results, with a 40% q-o-q decrease in production, totalling 1.2 mnt compared to Q3 CY’24. Transported volumes from Gabon also fell by 40% quarter-on-quarter to 1.09 million tons.
Additionally, Jupiter Mines Limited reported a 38% q-o-q decline in manganese ore production from its Tshipi mines, dropping to 0.74 mnt compared to 1.21 mnt in Q3 CY’24. Sales volumes also fell by 34% q-o-q to 0.68 mnt due to unfavorable market conditions, resulting in no production of low-grade ore during the quarter. This combination of factors is contributing to tightening supply dynamics in the manganese ore market.
Manganese alloys prices remains largely stable: The Indian manganese alloys market has maintained stability, driven by need-based domestic purchases in domestic. Silico manganese prices showed a slight drop w-o-w by INR 300/t ($3/t) to INR 72,600-74,000/t ($838-854/t) in key regions like Durgapur, Raipur, and Vizag. The minor price fluctuation was due to slow movement in the steel market. Prices for the 65-16 grade rose by $7/t week-on-week to $975/t FOB Vizag/Haldia. Meanwhile, ferro manganese (HC 70%) prices remained steady at INR 76,000/t ($877/t) ex-works in Durgapur and Raipur. The stability was attributed to steady market operations and muted export demand. However, HC 75% ferro manganese prices increased by $5/t w-o-w to $977/t FOB Vizag/Haldia.
Weekly cargo arrivals rise w-o-w: Manganese ore imports to India increased by 37% w-o-w, with shipments totalling 103,924 t between 5-11 February, 2025.
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