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The price of imported manganese ore in Inida remains unchanged on a weekly basis, with differences in prices across different regions:
Gabonese high-grade manganese ore: The price of Gabonese Mn44% manganese ore has remained stable on a week on week basis, reflecting limited supply and temporary weakening of demand from global smelters for high-grade manganese ore, leading to price stability.
High grade manganese ore in Australia: Due to limited demand for high-grade manganese alloys, the price of 46% manganese ore in Australia remains unchanged at $7.55/dmtu to India.
South African manganese ore lumps: The price of 37% manganese ore in South Africa remains around $6.4/dmtu to India. The cautious purchasing of Indian smelters has kept demand flat.
In the past week, the performance of the imported manganese ore market has been sluggish, mainly due to a decrease in inquiries and transactions. The lack of purchasing interest among market participants has led to difficulties in achieving transactions, resulting in a decrease in demand for manganese alloys in European countries and global steel production regions.
Factors to maintain stable import manganese ore prices:
Buyers are cautious, downstream demand is sluggish: spot trading activities remain sluggish, and inquiries have not been converted into transactions. This trend highlights the sustained imbalance between supply and demand. Market participants seem to be in a wait-and-see state, waiting for a price correction, and entering the market with greater enthusiasm as demand expectations increase.
The price of Indian silicon manganese has dropped significantly. Due to on-demand procurement in both domestic and export markets, the price of Indian silicon manganese has dropped by 5,600 rupees per ton (67 US dollars per ton). The current factory price is between 86,700-89,300 rupees per ton (1,041-1,072 US dollars per ton). This decline, combined with the cautious attitude of steel buyers, may lead to recent price fluctuations and may also delay Indian smelters from booking imported manganese ore.
The arrival volume in India increased by 47% on a week on week basis: the arrival volume of manganese ore in India increased by 59% (Mn37%, Mn44%, and Mn46%), and the weekly cargo volume from May 8 to May 14, 2024 reached 178,514 tons, higher than the previous week's 121,766 tons. The weekly import volume of manganese ore has rebounded from the low level of the previous week.