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The price of imported high-grade manganese ore reaching a historic high in India.
Australia's Mn46% manganese ore: Due to limited supply of high-grade manganese alloys, the price of manganese ore has significantly increased by $1.4/dmtu to $9/dmtu to India in recent week.
Gabonese Mn 44% manganese ore: The price has significantly increased by $1.3/dmtu to $8.45/dmtu to India in recent week, reflecting a tight supply situation. Although the demand for high-grade manganese ore from global smelters continues to increase, this is not enough to fully offset the impact of supply shortages, leading to a sustained rise in manganese ore prices.
South African Mn37% manganese ore: prices remain stable at approximately $6.45/dmtu to India. The cautious purchasing behavior of Indian smelters has suppressed the demand for this low-grade manganese ore.
Market Overview
The demand in China is driving the tightening of the high-grade manganese ore market: the high-grade manganese ore market is experiencing a period of supply contraction and price increase. The inquiries for high-grade manganese ore in the Chinese market have increased significantly, while the supply of domestically produced manganese ore in China is limited. In China, bulk orders of 15,000 to 20,000 tons of high-grade manganese ore are priced $8.3/dmtu, which has established this price point as the market benchmark.
This situation directly affects the export price of manganese ore to India. Therefore, miners have raised their prices one after another, reaching a historic high, reflecting tight supply and strong demand in China.
The price of Indian silicon manganese has risen due to the rise in manganese ore prices: the ex factory price of Indian silicon manganese has increased by 2,750 rupees/ton (33 US dollars/ton) on a week on week basis, reaching 85,000-86,600 rupees/ton (1,019-1,038 US dollars/ton). Previously, Comilog raised its offer for Gabonese manganese ore. Due to MOIL's recent increase in manganese ore prices by 30-35%, the short-term outlook is uncertain. Market participants will pay attention to its impact on silicon manganese prices and global supply and demand trends.
The weekly import arrival volume at ports decreased by 7% compared to the previous week: India's manganese ore arrival volume decreased by 22% (Mn37%, Mn44%, and Mn46). This decline reflects a shift in the purchasing model of smelters, who are currently strategically purchasing a smaller quantity of manganese ore due to uncertain market prospects.