India's imported manganese ore prices inch up w-o-w

• Weekly cargo arrivals at Indian ports rise
  
  
• Australian material witnesses slight hike in prices
  
  

This week, imported manganese ore prices have risen slightly despite limited movement in manganese alloys.

• Australian high-grade ore: Australian high-grade (46% Mn) ore witnessed an increase of $0.07/dmtu to $4.61/dmtu.
  
  
• Gabonese high-grade ore: Prices of Gabonese high-grade (44% Mn) ore edged up by $0.06/dmtu to $4.46/dmtu.
  
  
• South African lumps: South African lumps (37% Mn) saw a slight rise of $0.16/dmtu to $4.37/dmtu.
  
  

Market overview

Shift in global manganese ore market: The global manganese ore market is witnessing a shift in sentiment. In response to rising costs and uncertain demand, key producers are increasing their offers. Jupiter Mines Limited, the operator of the Tshipi Borwa Manganese Mine in South Africa, has set the offer price for March shipments of its high-grade Mn36.5% semi-carbonate lump at $4.1/dmtu CIF China. No offers have been issued for February shipments. This move has led to a rise in Indian import prices, highlighting the interconnected nature of the manganese ore market.

South32 reports increase in quarterly production volumes: South32 experienced a significant increase in manganese ore production in Q2 FY'25, rising by 88% quarter-on-quarter (q-o-q) to 1.124 wet million tonnes (wmnt) and a 38% increase y-o-y for the first half of FY'25. This surge in production is attributed to the resumption of operations in Australia.

Despite increased production, sales of manganese ore fell by 16% q-o-q, dropping to 0.498 wmnt, indicating a potential excess in inventory or weaker demand in the market.

Additionally, the production guidance for FY'25 for both Australian and South African manganese ore operations has not changed, suggesting a steady outlook on production capacity despite the variability in sales.

This scenario highlights the strategic production decisions miners like South32 face amid fluctuating sales volumes, balancing increased output with market demand.

Firm manganese alloys prices: Indian domestic silico manganese prices remained steady, with a slight decline of INR 50/t ($1/t) week-on-week (w-o-w), settling at INR 69,200-70,500/t ($802-817/t) in key regions like Durgapur, Raipur, and Vizag. Domestic smelters maintained steady offers w-o-w without further discounts, as rising manganese ore prices have increased smelters' production costs. Ferro manganese (HC 70%) prices also saw a minor decrease by INR 200/t ($2/t) to INR 73,500/t ($852/t) ex-works in Raipur, showcasing stability w-o-w amid firm demand and steady market operations.

Weekly cargo arrivals rise: Manganese ore imports to India increased by 238% w-o-w, with shipments totaling 2,27,725 t between 08 January to 14 January 2025.