India: Imported manganese ore prices inch up w-o-w as global miners lift offers

• Overseas ore prices rise for Jan'25 deliveries
  
  
• Weekly cargo arrivals at Indian ports rise 53%
  
  

Global manganese ore prices have experienced a slight uptick, driven by increasing operational costs. Despite modest demand for manganese alloys, producers have adjusted their pricing to account for higher input costs and other operational expenses.

• Australian high-grade ore: Australian high-grade (46% Mn) ore witnessed an increase of $0.10/dmtu to $4.50/dmtu due to supply constraints.
  
  
• Gabonese high-grade ore: Prices of Gabonese high-grade (44% Mn) ore edged up by $0.05/dmtu to $4.20/dmtu, reflecting rising production and handling costs, along with ongoing rail maintenance impacting supply.
  
  
• South African lumps: South African lumps (37% Mn) saw a slight rise of $0.08/dmtu to $4.08/dmtu. Limited upward price movement is possible due to existing production cuts in the region.
  
  

Market overview

Global manganese ore prices rise: The global manganese ore market is witnessing a shift in sentiment, with producers increasing their offers to counter rising costs and uncertain demand. Key players like South32, NMT, and Eramet Comilog have raised their prices for January 2025 shipments, reflecting a more optimistic outlook. This has led to the rise in Indian import prices.

Additionally, global manganese ore producers are implementing strategic production adjustments to balance supply and demand in the face of uncertain market conditions. This proactive approach aims to optimise production and mitigate potential risks.

Silico manganese prices inch up amid reducing supply: The domestic silicomanganese market has experienced a slight uptick in prices, primarily driven by concerns over potential production disruptions at key manufacturing facilities. The 60-14 grade has increased by INR 500/t ($6/t) w-o-w to INR 64,900-66,000/t ($765-778/t) exw.

However, the recent decline in domestic steel billet prices by INR 150/t ($2/t) to INR 38,650/t ($456/t) exw-Raipur may temper the upward momentum in the silicomanganese market. The overall outlook remains uncertain, influenced by factors such as global economic conditions, steel demand, and geopolitical events.

Weekly cargo arrivals rise: Manganese ore imports to India increased by 53% w-o-w, with shipments totaling 113,600 t between 27 November and 3 December.

The overall market outlook remains cautious, with the potential for further price fluctuations and production adjustments depending on evolving global economic conditions and steel demand.