India: Imported manganese ore prices climb up as market rebounds

• Miners respond to declining port inventories, Chinese market recovery
• Eramet Comilog hikes manganese ore prices for Mar’25 shipments

Global manganese ore prices have increased slightly this week due to declining port inventory and limited supplies from miners. Additionally, rising prices of manganese alloys have further supported this uptrend.

• Australian high-grade ore: Australian high-grade (46% Mn) ore witnessed an increase of $0.37/dmtu to $5.16/dmtu due to constraint supply.
• Gabonese high-grade ore: Prices of Gabonese high-grade (44% Mn) ore edged up by $0.35/dmtu to $4.83/dmtu, reflecting rising production and handling costs, along with ongoing rail maintenance impacting supply.
• South African lumps: South African lumps (37% Mn) saw a slight rise of $0.20/dmtu to $4.57/dmtu

Market overview

Limited supply drives ore prices as global miners cut exports: Global miners are increasing their prices in response to declining port inventories and the expectation of renewed demand from China following the Lunar New Year holidays. As a major consumer, China’s anticipated market activity has prompted miners to reduce ore supply to other countries, including India. Although South32 has resumed production at GEMCO in Australia, it will take time for the operation to ramp up and fully supply larger quantities to major consumers. This situation has resulted in limited supply in the market, contributing to robust ore prices on the global stage, sources informed.

Additionally, Eramet Comilog, a major manganese ore exporter from Gabon, has increased its March 2025 shipment prices. Prices for Mn 44.5% lumps have been set at $4.75/dmtu and for 43% chips at $4.55/dmtu, both CIF China. This represents a month-over-month increase of $0.45/dmtu.

Manganese alloys prices surge amid rising demand: Indian manganese alloy prices have risen week-on-week (w-o-w) due to increasing demand and limited supply. Silico manganese prices increased by INR 1,100/t ($13/t) w-o-w, reaching INR 71,400-72,700/t ($825-840/t) in key regions such as Durgapur, Raipur, and Vizag. The price rise followed MOIL’s price revisions for manganese ore for February 2025 deliveries.

Additionally, Indian ferro manganese (HC 70%) prices increased by INR 500/t ($6/t), reaching INR 75,000/t ($866/t) ex-works (exw) in Durgapur and INR 75,400/t ($871/t) exw in Raipur, reflecting a rise of INR 900/t ($10/t). The price increase is driven by a combination of factors, with limited supply playing a significant role in supporting these prices.

Weekly manganese ore cargo arrivals to India rise: Manganese ore imports to India increased by 95% w-o-w, with shipments totalling 296571t between 22-28 January, 2025.