South African Carbonate Ore Market Remains Weak

Global Manganese Ore prices are falling down in line with falling manganese alloy prices worldwide. Manganese Ore prices in China are falling down consecutively after the Silico manganese tender prices were cut down by RMB 150/MT (USD21.09/MT). Silico Manganese Producers have strong intention to force down manganese ore prices. Chinese Buyers are expecting lower prices from the miners owing to the negative market outlook. The freight charges from South Africa to China are also increasing. Chinese Alloy smelters remained pessimistic with the falling value of Chinese Yuan against USD which is making the imports overpriced.

Silico Manganese demand remained affected due to low demand in India as well. Meanwhile, the prices of Australian and Gabonese Ores remained unchanged, but they are also likely to follow the South African price trend. Prices for Australian Lumps, Mn 46%, Fe 5% are at USD 6/dmtu CIF India. South African Carbonate Ore (Lumps, Mn 37-38%) are down to USD 5.10/MT CIF India, and Manganese Ore Lumps, Mn 44%, Fe 5% from Gabon is down at USD 5.6/dmtu for September Shipments.

On the future outlook, the Manganese Alloys producers expect the Manganese Ore prices to roll further down in line with the down-trending market.