India: Imported manganese ore prices hold steady w-o-w except for Gabonese grade

• Eramet lifts Feb'25 prices, South32's offers firm
  
  
• Cargo arrivals in India increase by 57% w-o-w

  
  
  

India's imported manganese ore prices remained relatively stable this week. However, prices of 44% Gabonese manganese ore, which increased slightly, were an exception to this trend.

• Gabonese high-grade ore: Prices of Gabonese high-grade ore (44% Mn) moved up slightly by $0.16/dmtu w-o-w to $4.39/dmtu, as inquires rose.
  
  
• Australian high-grade ore: Australian high-grade ore (46% Mn) was stable w-o-w at $4.53/dmtu, inching up by $0.01/dmtu w-o-w.
  
  
• South African ore: South African lumps (37% Mn) remained largely flat w-o-w at $4.12/dmtu, up $0.01/dmtu.
  
  

Market overview

Eramet Comilog's prices rise: The global manganese ore market witnessed an increase in offers in response to rising costs and improving demand dynamics. Eramet Comilog increased its February 2025 shipment prices for Mn 44.5% lumps and 43% grade chips by $0.2/dmtu to $4.3/dmtu and 43% grade chips at $4.1/dmtu, respectively, both CIF China, indicating a more optimistic market outlook and contributing to a rise in Indian import prices.

Tight supply pushes up Gabonese ore prices: Indian smelters are currently facing a scarcity of Mn 44% ore due to delayed shipments amid ongoing geopolitical tensions. This supply disruption, coupled with a sudden increase in inquiries for manganese ore, supported Gabonese ore prices, leading to its recent uptrend.

South32's prices steady m-o-m: South32, a global mining leader, maintained its prices of 37% grade South African semi-carbonated manganese ore lumps at $4.05/dmtu CIF China for February 2025 shipments, indicating stability in the market.

Manganese alloys prices on uptrend: Manganese alloys prices in India have risen for three consecutive weeks due to limited supply and improved demand, particularly from steelmakers. The 60-14 grade silico manganese has increased by INR 1,450/t ($17/t) to INR 69,600-70,800/t ($807-821/t) exw. The 65-16 grade now stands at $927/t FOB compared to $915/t earlier. Indian ferro manganese (HC 70%) prices also rose to INR 73,900/t ($857/t) exw-Raipur and INR 73,500/t ($853/t) exw-Durgapur.

Import arrivals rise by 57% w-o-w: Manganese ore import arrivals to India increased by 57% w-o-w, with shipments totalling 94,400 t over 25-31 December compared to 60,207 t in the previous week.