Key Numbers
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COMILOG (Gabon) Offer – Apr 2026:
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Mn 44.5%, Fe ~5%, P 0.14% lump
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$5.25/dmtu CIF China
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↑ $0.27/dmtu m-o-m
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CML (Australia) Offer – Apr 2026:
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Mn >46%, Fe <6%, SiO₂ <18% lump
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$5.60/dmtu CIF China
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↑ $0.20/dmtu m-o-m
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South32 (Australia) Offer – Apr 2026:
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Mn 42% lump
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$5.25/dmtu CIF China
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↑ $0.05/dmtu m-o-m
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1. Major Miners Raise April Offers
Global manganese ore miners have announced higher offers for April 2026 shipments, signaling firm sentiment in the seaborne market.
Eramet’s subsidiary COMILOG, one of the world’s leading manganese ore producers, set its 44.5% grade Gabonese lump price at $5.25/dmtu CIF China, representing a $0.27/dmtu increase from March levels.
Similarly, Consolidated Minerals Limited (CML) from Australia increased its 46% grade lump offer to $5.60/dmtu, while South32’s 42% grade material saw a smaller rise to $5.25/dmtu.
Market Interpretation: The coordinated price adjustments across multiple producers suggest tightening supply expectations and improving demand signals from downstream alloy producers.
2. China Remains the Key Demand Driver
China continues to dominate global manganese ore trade, as the metal is primarily consumed in silico-manganese and ferro-manganese production used in steelmaking.
Industry estimates indicate that over 90% of manganese consumption globally is linked to steel production, making the ore market highly sensitive to steel demand cycles.
With Chinese steel mills gradually stabilizing production after earlier fluctuations, demand for manganese alloys used in steel deoxidation and strengthening remains supportive.
Market Interpretation: Stable steel production levels in China often translate into steady procurement activity by manganese alloy smelters, influencing seaborne ore prices.
3. Supply Structure Keeps Market Balanced
The global manganese ore market is dominated by a limited number of large producers across South Africa, Gabon, and Australia.
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COMILOG (Gabon) is among the world’s largest manganese exporters.
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South32 and CML represent major Australian supply sources.
These producers typically announce monthly benchmark offers, which serve as key reference points for international trade.
Market Interpretation: Incremental increases in producer offers often reflect supply discipline among miners, especially when inventories and shipments remain balanced.
4. Downstream Alloy Market Influences Buying Sentiment
Manganese ore demand is closely linked to the production of silico-manganese (SiMn) and high-carbon ferro-manganese, both essential inputs in steelmaking.
Market participants note that ore price adjustments are often influenced by:
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Silicon-manganese alloy margins
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Steel production trends
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Port inventory levels in China
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Freight and logistics costs
Market Interpretation: As long as alloy margins remain stable, smelters are likely to continue restocking, providing underlying support to ore prices.
Industry Impact
The latest manganese ore offers suggest that the global market is entering a phase of moderate price firmness after a period of relative stability.
Key implications include:
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Stable raw material costs for ferroalloy producers in the near term
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Continued importance of Chinese demand in setting global price direction
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Potential support for silico-manganese and ferro-manganese markets
For steelmakers, manganese remains a critical alloying element, meaning even modest changes in ore pricing can influence the broader ferroalloy supply chain.