- Lower alloys demand slows imported ore interest
- Arrivals of imported ore increase by 36% w-o-w
This week, imported manganese ore prices experienced a slight decline, primarily driven by reduced export inquiries and subdued domestic demand.
- Australian high-grade ore: Australian high-grade (46% Mn) ore witnessed a decrease of $0.30/dry metric tonne unit (dmtu) to $5.53/dmtu due to limited demand in high-grade manganese alloys.
- Gabonese high-grade ore: Prices of Gabonese high-grade (44% Mn) ore edged down by $0.28/dmtu to $5.02/dmtu.
- South African lumps: South African lumps (37% Mn) saw a slight decrease of $0.15/dmtu to $4.48/dmtu.
Market overview
Slump in Mn alloys demand stalls imported ore purchases: Imported manganese ore prices declined slightly this week due to reduced inquiries and lower purchase volumes, influenced by a sluggish export market for Indian manganese alloys. Silico manganese prices declined marginally by INR 200/t ($2/t) to INR 71,300-72,900/t ($829-848/t) in Durgapur, Raipur, and Vizag, amid only routine trades taking place and steady but slightly sluggish demand during the fiscal year-end. Ferro manganese (HC 70%) prices were largely stable, with Durgapur witnessing a slight drop of INR 45/t ($1/t) to INR 75,680/t ($880/t), while Raipur saw a minor rise of INR 40/t ($0.45/t) to INR 75,640/t ($880/t). Limited consumption of imported ore also led to price stability in the market.
Strategic buying in Mn alloys leads to price volatility: The manganese ore and alloys market has been experiencing significant turbulence in recent months, driven by a combination of strategic buying, shifting supply dynamics, and fluctuating demand. A rebound in production by previously idled smelters, coupled with panic buying and a surplus supply in the domestic market, has created a complex scenario, which is impacting the prices of imported manganese ore.
Weekly manganese ore arrivals increase: Manganese ore imports to India increased by 36% w-o-w, with shipments totalling 111,705 t over 5-11 March 2025.
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