India's Manganese ore import prices remain stable w-o-w, except South Africa

• Imported manganese ore prices remain stable on limited buying of manganese alloys
  
  
• Indian manganese alloy export bookings turn slow on rising freight rates
  
  

Imported manganese ore offerings remained stable w-o-w. Gabonese high-grade manganese ore 44% emerged at $4.35/dmtu and Australian high-grade manganese ore 46% stood at the same level of $4.65/dmtu. While, lumps Mn 37% grade from South Africa inched up by $0.05/dmtu w-o-w to $3.8/dmtu.

Also, a few manganese alloy manufacturers from Durgapur informed SteelMint that on bulk booking of manganese ore from Gabon and South Africa, they receive additional discounts on miners' offering prices which were around $4.25/dmtu for Gabonese origin Mn 44% and South Africa Mn 37% were offered at around $3.65-3.7/dmtu.

The manganese ore market was operating quietly, with stable trading activity. A gradual stockpiling of manganese alloys was heard at Indian ports amid container shortage, which kept the prices constant leading to less inquiries and purchases of manganese ore during last week. Also, the temporary suspension of numerous manganese alloys production facilities in Durgapur, Raipur, and Vizag have reduced the demand for manganese ore.

Higher freight rates slow down demand for imported manganese ore: Rising freight charges have put further strain on sellers to cover these costs, and buyers' refusal to pay is delaying transactions. Post-Red Sea attack, EU freight rates for manganese alloys exports are learnt to have risen three times, slowing down fresh bookings and delayed deliveries of previous bookings.

Import cargo arrivals increase by 7% w-o-w - India has witnessed a 7% increase in manganese ore (Mn37%, Mn44%, and Mn46%) weekly import shipments, reaching 57,280 t between 3 January 2024-9 January 2024, compared to the previous week's 53,310 t. Buyers carefully retained considerable quantities of the lower-grade South African material, anticipating the continuous climb in Mn ore prices.