Global Manganese Ore Supply Rises by almost 10% in Apr’17 M-o-M
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The cumulative Manganese Ore supply by the major global regions rose by 9.7% in Apr’17 vis-à-vis Mar’17, according to a recently released report by International Manganese Institute (IMnI). The supply during the month under consideration, however, shrunk by 4% against the corresponding month of the previous year.
A region-wise break-up on the supply by major producers across the global regions reveals:
• Africa & the Middle-East dipped by 3% in Apr’17 M-o-M, but gained 37% Y-o-Y
• Asia & Oceania was remarkably higher by 39% in the fourth month of the current year against Mar’17, however, the supply declined 30% against Apr’16
• CIS went up by 3% on a M-o-M comparison, but decreased by 4% on Y-o-Y basis
• America slipped by 7% in Apr’17 against Mar’17, also sunk by 1% over Apr’16
• Europe increased by 14% in Apr’17 over Mar’17, while plunging by 85% Y-o-Y
Supply by some global regions was lesser during the month under review due to operational constrains, while in the other regions the supply was up as demand was healthy.
| Manganese Ore Supply in Apr'17 | ||
| Regions | Change in Supply (M-o-M) | Change in Supply (Y-o-Y) |
| Africa & Middle East | -3% | 37% |
| Asia & Oceania | 39% | -30% |
| CIS | 6% | -4% |
| America | -7% | -1% |
| Europe | 14% | -85% |
Source: International Manganese Institute (IMnI)
Manganese Ore prices are rising on strong Chinese demand. It is uncertain for how long the upward trend was sustainable. The Third (Jul-Sep) quarter is generally slower season for steel and there will likely be a correction since Manganese Ore prices have raised so fast.
SteelMint assessed that since prices for material at Chinese ports are still trending higher, it is possible for seaborne Manganese ore prices to still test higher in June, but it is difficult to predict anything for July, as the market is too volatile and uncertain.
