Global Manganese Ore Prices Stable; Market Participants look forward to the MOIL announcement

03 Apr 2017

The price of seaborne Manganese Ore to India is still firm as there is no price reduction from big miners.

High grade Australian Manganese Ore has not yet been offered to India for April shipments. However, price remained firm for grade 44% Gabon at USD 4.3/dmtu but offers for grade 36-37% South-African Carbonated Ore has risen marginally, and is being offered by a bunch of miners in the range of USD 3-3.5/DMTU CIF India. While there has been pressure on miners from China and India to cut prices, there has been no price reduction yet. “Manganese Ore is a sellers’ market. When the miner is not willing to lower the price, buyers just have to pay at that price to get the cargo,” a Kolkata-based trader said. Manganese Ore prices in India are likely to stay firm, as the strengthening of the rupee is encouraging imports coupled with the high demand for Manganese Alloys.

Stock level of Manganese Ore is still low with the smelters. Manganese Alloy producers were adopting a cautious approach and not willing to take strong positions due to various factors which include the demand-supply mismatch of Manganese Alloys market and the inherent fear about the future prices of Manganese Ore which still remains unclear although the price levels Manganese Alloys have risen and prices are unlikely to drop at least in April’17. Chinese demand also plays an important role which is also reported to be improving.

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