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| Manganese Ore |
In response to a slowing demand for manganese ore among Chinese alloy producers, major mining companies outside of China are reducing export prices. French mining giant Eramet Comilog has set its November shipment price for 45% Gabonese lumpy manganese ore at $3.95 per metric tonne unit (mtu) cif China—down $1.05/mtu from October levels.
South African UMK, another large-scale player in manganese production, dropped its price to $3.70/mtu for South African 36% lumpy manganese ore in October, a significant decrease from September’s $4.60/mtu.
Consolidated Minerals (CML), which operates mining ventures in Australia and Ghana, priced its Australian 45% lumpy manganese ore at $4.25/mtu cif China for November. While no comparable data is available for the previous two months, CML’s prices reached $9.30/mtu in August.
The manganese ore market had seen steady price increases since April, but started to decline in September after a halt in operations by South32’s Gemco joint venture due to Tropical Cyclone Megan. These disruptions, coupled with narrower profit margins and reduced outputs at steel mills, led to a decrease in demand and price adjustments.
As of October 10, Australian lumpy manganese ore (44-46% grade) was priced at 42-44 yuan/mtu ($5.93-6.21/mtu) in Chinese markets, significantly lower than the June high of Yn70-73/mtu. The downward trend in the alloy market, along with higher supply from Australian sources, prompted Chinese alloy producers to source ore from alternative markets.
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