Manganese Prices

Manganese Prices December 2023

In the fourth quarter of 2023, the price of manganese in China reached 2382 USD/MT by December. Similarly, the global price of manganese reached 2627 USD/MT in the same month.

Manganese Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Manganese Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of manganese pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot price of manganese at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of manganese price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing manganese price fluctuations, such as supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Manganese Market Analysis

The global manganese market size reached 19.9 Million Tons in 2023. By 2032, IMARC Group expects the market to reach 23.9 Million Tons, at a projected CAGR of 2.10% during 2023-2032.

• Manganese is indispensable in steel production, constituting 85-90% of its global consumption. It is a highly sought-after metal in steel production mainly due to its ability to enhance the steel’s strength, hardness, and toughness. According to data published by the World Steel Association, in December 2023, the world crude steel production for 71 countries totaled 135 point 7 million tons. Notably, China's production was 67.4 million tonnes, down 14.9%, and India's production at 12.1 million tonnes, up 9.5%. The European Union produced 9.1 million tonnes, increasing by 2.7%. Africa, Asia and Oceania, and Russia + other CIS countries also contributed to the production figures. The increasing infrastructure projects, automotive manufacturing, and construction activities globally are fueling the steel demand. As countries nowadays are investing heavily in building and upgrading infrastructure, the need for durable and resilient steel grows. The automotive sector also contributes significantly, requiring robust steel for vehicle manufacturing. This widespread demand for steel directly boosts the manganese market, as it remains a vital element in producing superior steel products for various industries.
• The automotive sector also heavily relies on manganese for producing high strength steel essential for vehicle manufacturing. As consumers and regulations nowadays are pushing for lightweight, fuel efficient and safer vehicles the demand for manganese enriched steel is on the rise. This specialized steel improves vehicle performance and safety while reducing the weight which further contributes to better fuel efficiency. Consequently, the increasing production of modern vehicles drives the overall manganese market underscoring its important role in advancing automotive technology and meeting evolving industry standards.

• Industry is witnessing a significant rise in manganese demand due to the rise of electric vehicles and renewable energy storage solutions. Manganese is a crucial component in lithium-ion batteries and newer formulations such as lithium- manganese- oxide (LMO) batteries which offer enhanced energy density and stability. According to the data published by IEA, in 2022, the global demand for automotive lithium-ion (Li-ion) batteries surged by 65% to 550 GWh in 2022, from about 330 GWh in 2021, mainly because of growth in electric passenger car sales along with new registrations increasing by 55% in 2022 relative to 2021. Notably, China saw a 70% increase while the United States experienced an 80% rise in battery demand. The rising demand for critical materials such as lithium, cobalt and nickel has also escalated due to the electric vehicle (EV) battery production.

Manganese News

The report covers the latest developments, updates, and trends impacting the global manganese market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, technological innovations, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the manganese price trend.

Latest developments in the manganese industry:

• In February 2024, Angelo American acquired the high-quality iron ore resource Serra da Serpentina from Vale SA adding 4.3 billion tons of iron ore to its Minas-Rio mine in Brazil. The acquisition includes a 15% shareholding for Vale in the expanded operation with potential for further expansion and increased production. The partnership aims to leverage synergies between the two companies’ operations and logistics to meet the growing demand for high quality iron ore.
• In November 2023, Ningxia Tianyuan Manganese Industry Group Company Limited announced their plans to establish Ghana's first manganese refinery, aiming to add value to the country's manganese resources. Minister of Lands and Natural Resources Samuel Abu Jinapor expressed the government's commitment to adding value to minerals and securing London Bullion Marketing Association (LBMA) certification for gold refinement.

Product Description

Manganese is a chemical element with the symbol Mn and atomic number 25. It is a hard and brittle metal that occurs in various oxidation states. Manganese is not found as a free element in nature; instead, it occurs in minerals such as pyrolusite and rhodochrosite. It is a crucial component in steel production mainly due to its effectiveness in improving hardness, stiffness, and strength when alloyed with iron. Beyond its industrial applications, manganese is also important for biological functions. It acts as a cofactor for various enzymes involved in health issues although it is generally rare. Major sources of manganese include South Africa, Australia, and China. Its diverse applications span from steel manufacturing to batteries and fertilizers highlighting its significance in both industrial and biological contexts.

Regional Coverage

The report provides a detailed analysis of the manganese market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the manganese price trend.

Global Manganese Price

The report offers a holistic view of the global manganese pricing trends in the form of manganese price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price of manganese but also provides insights into historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed manganese demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Manganese Price

Europe's manganese pricing trends are deeply affected by its stringent environmental regulations and the push towards sustainable and recycled materials. The automotive and aerospace industries in Europe, which demand high-quality specialty metals, further complicate the pricing landscape. Energy costs and the availability of renewable energy sources also significantly influence manganese production costs. Additionally, the region's dependency on manganese imports, coupled with fluctuating currency values, adds another layer of complexity to understanding price trends in this market.

Detailed price information for manganese can also be provided for an extensive list of European countries.

North America Manganese Price

In North America, manganese prices are closely tied to technological advancements in extraction and processing techniques, which aim to reduce costs and enhance efficiency. The region's emphasis on defense and technology sectors, which require precise and high-grade metals, drives demand variability. Furthermore, trade policies, particularly those involving major trade partners like Canada and Mexico, heavily influence manganese supply chains and pricing structures. The shift towards green energy and electric vehicles in North America also affects demand patterns for metals.

Specific manganese historical data within the United States and Canada can also be provided.

Middle East and Africa Manganese Price

The manganese pricing trends in the Middle East and Africa are increasingly impacted by infrastructural developments and investments in the construction and transportation sectors. The region’s political climate and its effect on operational stability and security are also crucial in determining price trends. Additionally, the Middle East's strategic initiatives to diversify away from oil dependency and invest in mining and metal production capabilities are reshaping its market dynamics. In Africa, the availability of resources combined with foreign investment in mining projects heavily influences local and global manganese supply and prices.

Region-wise data and information on specific countries within these regions can also be provided.

Asia Pacific Manganese Price

In the Asia Pacific region, manganese pricing dynamics are significantly influenced by robust industrial growth and expanding manufacturing sectors, particularly in China and India. The region's high demand for metals is driven by its active construction industry and increasing investments in infrastructure projects. However, supply disruptions due to geopolitical tensions and regulatory changes in mining practices also play a critical role in shaping price fluctuations. Additionally, trade policies and import-export tariffs continue to impact the cost structures and availability of manganese, making the Asia Pacific market a complex environment for price trend analysis.

This manganese price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Manganese Price

Latin America's manganese market is predominantly influenced by its rich natural reserves, particularly in countries like Chile and Brazil. However, political instability and inconsistent regulatory frameworks can lead to significant volatility in manganese prices. Infrastructure challenges and logistical inefficiencies often impact the supply chain, affecting the region's ability to meet international demand consistently. Moreover, economic fluctuations and currency devaluation are critical factors that need to be considered when analyzing manganese pricing trends in this region.

This comprehensive review can be extended to include specific countries within Latin America.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of manganese pricing, covering global and regional trends, spot prices at key ports, and a breakdown of ex-works, FOB, and CIF prices.
• The study examines factors affecting manganese price trend, including supply-demand shifts and geopolitical impacts, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The manganese price charts ensure our clients remain at the forefront of the industry.