- Imported ore prices firm w-o-w, but supply a worry
- Manganese alloys export offers firm at $930-935/t
Indian silico manganese export prices remained largely stable w-o-w, with minor fluctuations driven by cautious overseas buying and competitive global offers.
According to BigMint, the 65-16 grade inched down by $1/tonne (t) w-o-w to $930/t FOB, while the 60-14 variant climbed up by $4/t to $851/t FOB since the last assessment on 7 July, reflecting cautious buying in the export market. Despite price fluctuations, export trade volumes recorded by BigMint improved significantly, climbing to 1,700 t from 600 t in the previous week, indicating a modest recovery in demand.
Market overview
Imported manganese ore prices steady w-o-w: Imported manganese ore prices in India were largely stable w-o-w, with minor increases in lower-grade South African material, while 44% and 46% grades remained unchanged. Meanwhile, manganese alloy prices continued to rise this week, driven by ongoing supply constraints in the domestic market. Australian high-grade (46% Mn) ore remained stable at around $4.60/dry metric tonne unit (dmtu) w-o-w. Prices of Gabonese high-grade (44% Mn) remained firm w-o-w at $4.30/dmtu. South African lumps (37% Mn) saw a slight rise of $0.02/dmtu w-o-w to $4.03/dmtu.
Compounding this, a key importer from Haldia reported cancellations of some overseas manganese ore shipments due to limited availability at ports, raising concerns about potential supply shortages in the near future. While some smelters are currently unaware of these cancellations, the market anticipates a clearer picture to emerge soon.
Indian manganese alloy export inquiries turn slow: Indian exporters and smelters have maintained robust manganese alloy export prices at around $930–935/t FOB (65-16 grade) Vizag/Haldia, leaving little room for discounts. While initial inquiries in the first two weeks of July were promising, competitive pricing from Malaysia and Ukraine has slightly pressured Indian asking rates. However, this has not yet significantly impacted overall price levels. Exporters remain cautious, noting that if overseas competition intensifies, it could lead to downward price adjustments in the near future.
Outlook
Silico manganese export prices are expected to remain stable in the near term, as rising global competition keeps pricing in check. However, the trend in imported manganese ore prices could play a key role in shaping the direction of manganese alloy prices, potentially introducing volatility if supply or cost dynamics shift.
Leave a Reply