India: Manganese ore import prices remain stable w-o-w in recent deals

Imported manganese offers have remained stable w-o-w. The current offers for lumps Mn 37% from South Africa is $3.7/dmtu with around 15,000-20,000t bookings being concluded at these levels this week.

Import cargo arrivals fall 32% w-o-w - India has witnessed a 32% decline in manganese ore (Mn37%, Mn44%, and Mn46%) weekly import shipments, reaching 123,199 t between 13-19 December, 2023, compared to the previous week's 180,765 t. This decrease was caused by a temporary decline in manganese alloys production in a key industrial region from few weeks.

Buyers carefully retained considerable quantities of the lower-grade South African material, anticipating the continuous climb in premium Mn ore prices. While volumes of higher-grade Mn 44% and Mn 46% fell, prices rose slightly. Mn 44% prices were recorded at $4.35/dmtu, up 0.05/dmtu y-o-y, and Mn 46% (lumps of Australian origin) prices stood at $4.7/dmtu CNF Vizag, India.

Imported manganese ore prices remain stable w-o-w - The price has remained consistent, the trading environment has been moderate, and market supply for manganese alloys has reduced due to temporary production curtailment in the local region, while demand remains higher than typical last week.

In the long run, the price of imported manganese ore may change due to scaling shipment freight rates in various nations. The market is likely to improve, and it is essential to continue to monitor the market trend of imported manganese ore volumes.