India: Imported manganese ore prices stable, South African lumps rise

• Imported manganese ore cargo arrivals fall w-o-w
  
  
• Constrained supply, production cuts prevail in domestic market
  
  

Imported manganese ore prices have been steady over the last two weeks except South African grade lumps 37%, which increased by $0.05/dmtu. Gabonese high-grade manganese ore 44% was assessed at $4.35/dmtu, and Australian high-grade manganese ore 46% stood at $4.65/dmtu, while lumps Mn 37% grade from South Africa increased by $0.05/dmtu week on week to $3.9/dmtu.

Domestic markets continue to remain cautious: The market saw relatively little spot trade, and the price of manganese ore stayed within a certain range. Indian smelters have fewer bookings for imported material as a result of the demand situation for manganese alloys due to a reduction in downstream output.

Imported cargo arrivals fall w-o-w: India has witnessed a 78% decline in manganese ore (Mn37%, Mn44%, and Mn46%) weekly import shipments, reaching 28,400 t between 17 January 2024-23 January 2024, compared to the previous week's 127,329 t. The weekly import volume of manganese ore has been primarily influenced by the ongoing production reduction in the local market and the sharp spike in spot freight charges.

One of the largest importers told BigMint that while the market supply has fallen and the trading environment in the ore market is now average, the demand side is consistent and there haven't been any significant adjustments.

Long-term market trends indicate that the price of manganese will not fluctuate much, and overall market stability is anticipated. Nevertheless, it is imperative to continue monitoring the manganese alloys market trend.