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The price of imported manganese ore in India remains unchanged on a weekly basis, and there are differences in prices from different origins:
High grade manganese ore in Australia: due to the limited demand for high-grade manganese alloy, the price of 46% manganese ore in Australia remained unchanged at US $9/dmtu (CNF visha port).
Gabon's high-grade manganese ore: the price of Gabon's mn44% manganese ore remained stable on a weekly basis at US $8.45/dmtu (CNF visha port), which reflected that the price was flat due to limited supply and the temporary weakening of global smelters' demand for high-grade manganese ore.
Manganese ore in South Africa: the price of 37% manganese ore in South Africa remained at about $6.55/dmtu (CNF visha port), up $0.10/dmtu. Prudent purchases have levelled demand at Indian smelters. The reason for the slight rise in manganese ore prices may be that the heavy rain and flood last week disrupted the transportation of manganese ore from Port Elizabeth, and Transnet issued the force majeure factors to delay the transportation.
The imported manganese ore market has stagnated this week, mainly due to the reduction of inquiries and purchases. Market participants' lack of interest in purchasing hindered the conclusion of the transaction, and led to a decline in the demand for manganese alloy from major regions such as Europe, the United Arab Emirates, Egypt and global steel producers.
According to sources, due to the suspension of production by GEMCO, the global supply of manganese ore fell by 10% month on month in April, to about 1.5 million tons. In addition, Gabon's import volume decreased, resulting in a sharp rise in the price of manganese ore last month.
Factors to keep the price of imported manganese ore stable:
Buyers are cautious, and downstream demand weakens: this week's trading activities are cold, and the initial interest of buyers has not been translated into a deal. This reflects the persistent gap between supply and demand. Market participants seem to be taking a wait-and-see attitude, expecting price adjustment or clearer future demand situation, and then they will re participate in the transaction with confidence.
The arrival volume of imported manganese ore increased by 92% on a week on week basis: from May 29 to June 4, 2024, the arrival volume of Indian manganese ore increased by 92% (mn37%, mn44%, and mn46%) on a week on week basis, with a weekly volume of 249,569 tons, higher than 130,185 tons in the previous week. The weekly import volume of manganese ore has rebounded from the low level of the previous week.