Imported Manganese Ore Market Holds Firm as Positive Sentiment Continues

Key Numbers

Fastmarkets High-Grade Mn Ore Index (CIF Tianjin): Slight weekly decline of 0.19%
Fastmarkets Semi-Carbonate Mn Ore Index (36.5% Mn): Weekly increase of 0.84%
COMILOG April Offer (44.5% Mn): $5.25/dmtu CIF China, up $0.27 m-o-m
CML April Offer (>46% Mn): $5.60/dmtu CIF China, up $0.20 m-o-m
South32 April Offer (42% Mn): $5.25/dmtu CIF China, up $0.05 m-o-m

1. Imported Mn Ore Market Shows Stability with Positive Bias

The imported manganese ore market maintained a generally firm tone during the week ending 14 March, supported by steady demand from alloy producers and higher seaborne offers from major global miners.

The Fastmarkets high-grade manganese ore index (CIF Tianjin) witnessed a marginal weekly decline of 0.19%, reflecting limited spot market adjustments after the recent price rally.

Meanwhile, the semi-carbonate manganese ore index (36.5% Mn) recorded a 0.84% weekly increase, indicating improving buying interest for mid-grade material used by ferroalloy smelters.

Market Interpretation: Despite minor fluctuations, the broader manganese ore market continues to display resilient demand and supportive price signals.

2. Global Miners Maintain Higher Offer Levels

A key factor supporting sentiment remains the recent upward revision in manganese ore offers by leading global suppliers.

Recent April shipment offers include:

COMILOG (Gabon): 44.5% Mn ore priced at $5.25/dmtu CIF China, up $0.27/dmtu from March
CML (Australia): >46% Mn ore priced at $5.60/dmtu, up $0.20/dmtu
South32 (Australia): 42% Mn ore priced at $5.25/dmtu, up $0.05/dmtu

These price adjustments reflect continued confidence among producers regarding underlying demand conditions in the manganese alloy market.

Market Interpretation: Higher miner offers typically set the tone for the seaborne manganese ore market, providing cost support for alloy producers globally.

3. Alloy Demand Continues to Provide Market Support

Manganese ore demand remains closely linked to the production of silico-manganese (SiMn) and ferro-manganese alloys, which are essential inputs in steelmaking.

Recent stability in steel markets across several regions has supported alloy production activity, sustaining procurement of imported ore by smelters.

Market Interpretation: Steady alloy demand continues to act as a key stabilising factor for the manganese ore market.

4. Freight and Supply Dynamics Still in Focus

Market participants continue to monitor global freight conditions and supply flows, particularly from major producing regions such as South Africa, Gabon, and Australia.

Earlier concerns around shipping costs and logistical disruptions had contributed to stronger market sentiment, and these factors remain part of the broader supply outlook.

Market Interpretation: While immediate supply disruptions appear limited, the market continues to factor in potential logistics risks when assessing forward pricing expectations.

Industry Impact

The imported manganese ore market appears to be consolidating after recent price increases, with the underlying trend remaining positive.

Key implications for the industry include:

Continued cost support for ferroalloy producers
Stable demand outlook from steelmaking sectors
Strong influence of global miner offer levels on market direction

For now, the market sentiment remains constructive, with participants closely tracking developments in alloy production and seaborne ore supply.