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

• Global miners adjust strategies amidst rising costs
  
  
• Weekly cargo arrivals at Indian ports decline 29%
  
  

Global manganese ore prices have seen a slight increase, primarily driven by rising operational costs faced by producers. Although demand for manganese alloys remains modest, producers are responding to higher input costs and escalating operational expenses by adjusting their pricing strategies.

• Australian high-grade ore: Australian high-grade (46% Mn) ore witnessed an increase of $0.01/dmtu to $4.54/dmtu due to supply constraints.
  
  
• Gabonese high-grade ore: Prices of Gabonese high-grade (44% Mn) ore edged up by $0.09/dmtu to $4.40/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 $0.01/dmtu to $4.21/dmtu.
  
  

Market overview

Global manganese ore prices rise: The global manganese ore market is experiencing a shift as producers raise their offers to tackle rising costs and uncertain demand. Key players like UMK and Eramet Comilog have increased their prices for February 2025 shipments, leading to a rise in Indian import prices. Producers are also making strategic production adjustments to balance supply and demand amidst uncertain market conditions.

Silico manganese prices remains firm: The domestic silico manganese market has experienced a slight fluctuation in prices, primarily driven by concerns over potential production disruptions at key manufacturing facilities. The 60-14 grade remained stable w-o-w at INR 69,300-70,500/t ($765-778/t) exw.

However, the recent decline in domestic steel billet prices by INR 200/t ($2/t) to INR 38,200/t ($456/t) exw-Raipur may temper the upward momentum in the silico manganese market. The overall outlook remains uncertain, influenced by factors such as global economic conditions, steel demand, and geopolitical events.

Weekly cargo arrivals fall: Manganese ore imports to India declined by 29% w-o-w, with shipments totalling 67,336t between 1-7 January, 2025.

Outlook

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.