Dragged by the price decrease in silicomanganese and ferromanganese markets, the price of manganese ore, especially for the local material, has dropped sharply in recent weeks in both India and China. Meanwhile, in other Southeast Asian countries mainly depending on export market, the manganese ore suppliers seem to have no choice but to cut down their offers greatly.
An Indian trader reported the price of manganese ore, especially local material, has fallen down greatly in recent weeks. He sold a batch of lumps 42%min at INR9,800/t ex mines this week, decreased by about 20%-25% compared to one month ago.
"Many smelters have shut down because the price keeps dropping for silicomanganese and ferromanganese, so the demand for manganese ore becomes really sluggish," he said. "However, as natural resource, its price will rebound quickly when the demand warms up."
Meanwhile, a trader in Indonesia just sold hundreds of tons of lumps 35%min at USD6.15/dmtu FOB Indonesia, and the price is far from what they expected.
"We still hold lots of the material on hand, which were purchased at high cost," he said. "However, the market becomes so sluggish that things come to a pretty pass for us."
Market participants don't hold consistent views about how long the current sluggish situation will last, and most of them take watch-and-wait attitudes towards the market for the moment.
An Indian trader reported the price of manganese ore, especially local material, has fallen down greatly in recent weeks. He sold a batch of lumps 42%min at INR9,800/t ex mines this week, decreased by about 20%-25% compared to one month ago.
"Many smelters have shut down because the price keeps dropping for silicomanganese and ferromanganese, so the demand for manganese ore becomes really sluggish," he said. "However, as natural resource, its price will rebound quickly when the demand warms up."
Meanwhile, a trader in Indonesia just sold hundreds of tons of lumps 35%min at USD6.15/dmtu FOB Indonesia, and the price is far from what they expected.
"We still hold lots of the material on hand, which were purchased at high cost," he said. "However, the market becomes so sluggish that things come to a pretty pass for us."
Market participants don't hold consistent views about how long the current sluggish situation will last, and most of them take watch-and-wait attitudes towards the market for the moment.
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