Imported manganese ore prices were largely stable this week, with the two main grades moving differently. The 43.5% Mn high-grade manganese ore index, CIF Tianjin, was assessed at $4.72/dmtu, down $0.01/dmtu or 0.21% from the previous week. The 36.5% Mn semi-carbonate index remained unchanged at $4.24/dmtu. The small movement in both grades shows that the market is still moving within a narrow range rather than taking a clear direction.
High-grade ore sees a marginal correction
The high-grade index slipped slightly from $4.73/dmtu last week to $4.72/dmtu this week. The decline was only $0.01/dmtu, or 0.21%, so there has been no major change in the price level. The grade had gained modestly in the previous two weeks, making this week's movement more of a small correction than a sharp reversal. Current Chinese market activity also remains relatively quiet, with buyers showing limited urgency at higher levels.
Semi-carbonate remains unchanged
The semi-carbonate index at 36.5% Mn stayed at $4.24/dmtu, exactly where it was in the previous week's assessment. This follows a stronger move in the grade earlier, when the index had increased by $0.05/dmtu or 1.19% to reach the current level. Since then, the market has stopped moving higher, with buyers and sellers largely waiting for clearer direction from the alloy market and Chinese port trade.
Chinese market remains cautious
The latest market activity in China points to a fairly quiet trading environment. Daily market assessments during the week described manganese ore prices as broadly stable, with transactions taking place within narrow ranges rather than at sharply changing levels. On September 11, mainstream Tianjin transactions included South32 Australian lump at around CNY 39–39.2/dmtu and CML Australian lump at CNY 40.5–41/dmtu, while South African mid-grade lump was around CNY 35.8–36.3/dmtu.
The availability of imported ore at Chinese ports continues to be an important factor for the market. New September cargoes were recorded arriving at Caofeidian and Qinzhou ports on September 11, while additional September cargoes had already arrived at Tianjin earlier in the month. This steady flow of material means buyers have not had to chase cargoes aggressively, particularly while downstream manganese alloy demand remains measured.
Alloy demand remains an important factor
The manganese ore market is closely linked to silico-manganese and ferro-manganese production, and the current buying pattern reflects the cautious approach of alloy producers. Market activity during the week was described as stable to weak, with participants waiting for clearer signals before making larger purchases. This has limited the ability of ore sellers to push prices higher even though some grades continue to attract support.
The latest numbers also show how different grades are behaving within the same market. High-grade ore has slipped slightly after its recent recovery, while semi-carbonate has held on to its previous gain without making another move higher. The gap between the two indices therefore remains relatively narrow compared with the stronger price movements seen earlier in the year.
Supply continues to keep the market balanced
Supply availability is another reason why the market has remained contained. Chinese ports are receiving cargoes from major producing regions, while September offers and spot transactions continue to provide buyers with different sourcing options. Recent market data also shows active price assessments for material from Australia, South Africa, Gabon and Brazil, indicating that supply from several origins remains available to Chinese buyers.
For Indian consumers, the current movement in the China-linked seaborne market remains relevant because imported manganese ore prices influence replacement costs for ferro-alloy producers. However, the latest assessment does not point to a significant change in the international market. With high-grade material down just 0.21% and semi-carbonate unchanged, the immediate picture is one of stability rather than a fresh price trend.
Overall, imported manganese ore prices ended the week on a quiet note. The 43.5% Mn high-grade index eased to $4.72/dmtu, while the 36.5% Mn semi-carbonate index held at $4.24/dmtu. With Chinese port arrivals continuing and alloy buyers remaining cautious, the market is likely to remain focused on actual transaction activity and downstream demand before making its next significant move.