In the coming months, as the wet season begins in May, the operating rate of ferroalloy plants in China is expected to rise. This has prompted manganese ore traders in China to boost their imports during the month. According to China's customs data, the country imported 147,826 tons of manganese ore in May, marking a significant increase of 41.7% compared to the previous month and 31.2% year-on-year.
With the surge in manganese ore imports, market prices have started to decline. One major factor behind this trend is the increased supply from South Africa, where production has risen significantly. However, demand from local manganese alloy plants has not kept pace, leading to a downward pressure on prices.
This week, the price of manganese ore continued its downward trend due to weak demand from end-users. For instance, the FOB price of 38% manganese ore in Port Elizabeth, South Africa, fell to $3.96 per ton, down by 7 cents from the previous week. Similarly, the CIF offer for 44% manganese ore at Tianjin Port, China, dropped to $5.59 per ton, a decrease of 3 cents from the prior week.
China’s manganese ore imports from South Africa reached 471,594 tons in May, representing a 72.4% increase from April and a 69.5% year-on-year growth. Meanwhile, imports from Australia totaled 485,416 tons, up 41.1% from the previous month and 39.2% compared to the same period last year. Australia remained the largest source of manganese ore imports for China in May, highlighting the growing reliance on Australian supplies in the current market environment.
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