India: Imported Manganese Ore Prices Slide in line with Sluggish Manganese Alloys Market

Manganese ore prices have continued its downslide in the global market which started in last Nov, owing to weak demand and price risk fears. Low prices of Manganese Alloys in the market are forcing the smelters to reduce the prices to entice customers. Falling prices of Manganese alloys were considered as the major reason for declining ore prices, alongside weak demand.
With the dropping Manganese Alloy prices, producers of alloys who went for high ore prices at the end of last year are demanding for ore at a much lesser price so as to compensate the profit margin they lost due to high pricing of ores.
SteelMint assessed offers for 37-38% Carbonate Ore from South Africa at around USD 5.9/dmtu CIF India, while prices for 44% Manganese Ore from Gabon and 46% Ore from Australia at USD 6.7/dmtu and USD 6.9/dmtu CIF India respectively for March delivery.
A few traders also commented that the supply and demand is the major cause for the falling prices of Manganese ores. Last year was a difficult time for producers whereas miners were in much comfortable situation.
On the future outlook, the prices of Manganese Ore is expected to be under pressure unless demand from China picks up, which is likely to happen after the Spring Festival.