India: Imported Manganese Ore Prices remain Firm

Prices of Manganese ore imported to India continued to remain stable this week — as they have since the start of the year. However, market sources reported of moderate demand from Manganese Alloys producers.

Manganese ore market has held steady since the last two months and International prices are more or less stable for imported Manganese ore. Demand in India is good as compared to China, which is experiencing lower demand and this has compelled Manganese ore miners to direct their efforts toward India and offer more quantities than usual. These days, South African Carbonated Manganese ore is highly sought after by Indian Manganese alloy producers and it has got more demand over other grades/origin. Demand for Indian Manganese alloys is good and prices have also improved. Hence, the Manganese ore prices are holding firm and there is a little possibility for major price fluctuation in the international prices.

South African Carbonated Manganese ore 37% is being offered at around USD 4.6-4.7/DMTU CIF India. BHP is offering 46% lumpy Australian Manganese ore at USD 5.5/DMTU CIF India. Although, there is a good demand for Manganese ore, the availability of the same remains low, primarily due to financial situation of the Ferro alloy industry as a whole. Currently, Manganese alloy producers largely have very limited capital to sustain operations, which as a result limits their purchasing power. The increased electricity prices have also played a spoilsport coupled with low power availability especially in Andhra Pradesh these days. However, situation is slightly better than before, for Ferro alloy industry in India and it could get better with the rising steel output in India and favorable International demand for Manganese alloys which will prompt more Manganese ore imports in India.