India: Manganese ore import prices stable w-o-w

Imported manganese ore offerings remained stable w-o-w. Lumps Mn 37% grade from South Africa remained unchanged w-o-w for $3.65/dmtu. Gabonese high-grade manganese ore 44% emerged at $4.3/dmtu.

Import cargo arrivals fall 14% w-o-w - India has witnessed a 14% decline in manganese ore (Mn37%, Mn44%, and Mn46%) weekly import shipments, reaching 106,236 t between 20-26 December, 2023, compared to the previous week's 123,199 t. This decrease was caused by a temporary decline in manganese demand in the domestic region due to continuous fluctuations in steel prices.

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 46% fell by 2% (0.1/dmtu) w-o-w, (lumps of Australian origin) prices stood at $4.6 /dmtu CNF Vizag, India.

Manganese alloys plants' Mn ore demand down: The market for manganese ore has decreased as a result of the temporary suspension of operations at several silico manganese manufacturing plants in Durgapur, Raipur, and Vizag. Additionally, domestic demand of manganese alloys has declined, and steel bidding was not as strong as it was last week.

The price of imported manganese ore may alter in the near future due to scaling transport freight charges in various nations and increasing issues of shipment containers. According to major manganese alloys exporters from India, the market is predicted to strengthen by the first week of January next year due to expected demand from the European region and other significant nations from overseas.

It is also vital to keep an eye on the market trend of imported manganese ore volumes.