International Manganese Ore prices are holding firm due to healthy demand from China and India for the Ore, amid a robust Manganese Alloy and Steel market.
Sources highlighted that there has been a steady inflow of Manganese Ore cargo coming into India of late, and the supply situation has eased. However, only very few cargoes are still expected to arrive at the Indian shores and Indian producers are eager to secure Manganese Ore availability specially when the Manganese Alloy market is performing so well. In fact, it is a situation seldom witnessed, where the Alloy market is lending support to the Ore market, and not the other way round – which is generally the case. The current Manganese Ore prices are at acceptable levels for the Indian smelters.
Price for South African carbonate Ore is at around USD 5.5/DMTU for Sep’17 shipments. The offer price for 46% Australian Manganese Ore Lumps is at USD 6.6/DMTU CIF India and Gabon 44% grade is assessed at USD 6.25/DMTU CIF India for September shipment.
International Manganese Ore prices might even move higher for October shipments, and any downward movement is non-existent for the near future on the back of higher prices of the alloys and as sentiment in the steel market has vastly improved.
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