- Higher ore prices restrain drop in manganese alloys export offers
Indian silico manganese export offers remained stable w-o-w amid limited market inquiries. Additionally, the market is experiencing a phase where buyers are demanding lower prices during negotiations, putting downward pressure on offers. Despite a balanced supply-demand equation, this results in minimal fluctuation in export prices.
BigMint’s assessment on 4 March 2025 of export prices of the 65-16 grade stood at $958/tonne (t) FOB down by $12/t w-o-w. Meanwhile, the 60-14 variant also saw a decline by $10/t w-o-w to $866/t FOB.
Factors impacting prices
Limited inquiries from key importing countries: Limited inquiries from key importing countries such as EU, Japan, and South Korea contributed to the stability of export prices. With reduced demand and fewer purchasing decisions from these major markets, price fluctuations remained minimal.
“Although there were inquiries from Japan, but deals were not concluded much. Inquiries from other regions have remained slow”, cited an eastern India based player.
These countries, being the primary consumers of silico manganese for steel production, saw a slowdown in their inquiries. As a result, India’s export prices remained steady, with little change observed despite balance in supply-demand equation in the market.
Impact of buyer negotiations on prices: The market is in a stage where buyers actively sought lower prices during negotiations as they are getting competitive offers from other exporting countries, which is exerting downward pressure on offers. Despite a balanced supply-demand equation, this dynamic resulted in minimal fluctuations in export prices.
The asking rate from buyers’ end for 60-14 variant ranged in between $850-$860/t FOB. While for 65-16 grade were in between $960/t FOB levels.
Buyers’ reluctance to accept higher price points influenced the pricing strategy, leading to a stabilization of export prices. Consequently, silico manganese export prices remained steady, with little variation.
Global manganese ore prices largely stable: Prices of imported manganese ore (Mn 37-46%) remains largely stable across grades. Mn44% from Gabon stood at $4.93/dry metric tonne per unit (dmtu), up by $0.03/dmtu. Mn37% from South Africa was assessed at $4.60/dmtu, down by $0.02/dmtu w-o-w and Mn46% from Australia was at $5.28/dmtu CIF India, rising by $0.04/dmtu.
Chinese silico manganese offers decline: The silico manganese market remained more or less stable, but remained cautious, with limited price fluctuations and trading activity. Market participants are closely observing upstream and downstream trends to gauge future movements. Steel mills’ bidding is a key factor that could impact the market in the coming weeks.
Prices assessed by BigMint for Chinese silico manganese diminished as Mn65%, Si17% prices were largely fell w-o-w, with a slight decline of RMB 50/t ($7/t) to RMB 5,980-6,370/t ($821-$875/t) exw, including taxes.
Outlook
The outlook for silico manganese exportsprices remains favourable, with stable prices driven by limited market inquiries and buyer negotiations. Furthermore, the rise in global manganese ore prices, like Tshipi Borwa’s increase, positively impacts price stability.
Article From bigmint
