India: Imported Manganese Ore Offers for Higher Grade Firm

High-Grade Manganese Ore offers hold firm on being the preferred grade in China, while low-grade Manganese Ore prices dropped.

Demand for Manganese Ore continues to be sluggish on the back of poor demand for Manganese Alloys in China. However, demand from India is helping the Manganese Ore market to sustain.

Australian Manganese Ore grade 46% is being offered at around USD 6.85 /DMTU CIF India for Dec'17 shipment. Price for 36-37% South-African Carbonated Ore has come down and is being offered at USD 5.65/DMTU CIF India for Nov'17 shipment.

Offers for South African Carbonate Ore is down, as the Chinese buyers preferred higher grade Ore from Gabon and Australia. The strict environmental norms have prompted Manganese Alloy producers to opt for higher grade Ore - which requires less heat.

Stock level of Manganese Ore is still low with the smelters. Manganese Alloy producers are adopting a cautious approach and not willing to take strong positions due to various factors which include the demand-supply mismatch in the Manganese Alloys market and the inherent fear about the future prices of Manganese Ore which still remains unclear after the Chinese demand for imported Manganese Ore has also come down sharply, and is expected to stay low all through the winter season.