Chinese Manganese Ingot Prices: 95# and 97# FOB Assessment

Market Snapshot: February 10, 2023 Manganese Ingot Quotations

Chinese manganese metal ingot offers for February 10, 2023 were assessed on an FOB basis in US dollars per tonne. Two commercial grades, 95# and 97#, accounted for the bulk of export quotations, and the gap between the published offer range and the concluded transaction range remained the principal negotiating variable for overseas buyers.

Product	Grade	Quotation (USD/ton)	Transaction price (USD/ton)	Remarks
Manganese ingot	95#	2350-2360	2350-2390	FOB
Manganese ingot	97#	2390-2410	2370-2390	FOB

All figures are quoted in US dollars per tonne on an FOB China basis. The assessment reflects the prevailing offer level from Chinese electrolytic manganese metal plants at the time of publication, before ocean freight, insurance and destination charges are added.

Understanding the 95# and 97# Grade Designations

Manganese ingot is traded on a manganese content basis. The 95# designation refers to a manganese metal content of 95 percent minimum, while 97# denotes a minimum of 97 percent manganese. Both grades are produced predominantly by the electrolytic manganese metal route, in which manganese ore is leached, purified and then won electrolytically to produce high-purity metal that is subsequently melted and cast into ingots.

Higher manganese content narrows the range of residual impurities such as iron, selenium, silicon and carbon. That purity difference explains the persistent premium of the 97# grade over 95# in the quotation table above: the additional refining and process control required to lift manganese content from 95 percent to 97 percent is reflected directly in the offer level.

95# ingot: minimum 95 percent manganese, selected where a robust deoxidation effect matters more than ultimate purity.

97# ingot: minimum 97 percent manganese, selected for alloying duties where residual elements must be tightly controlled.

Both grades are normally supplied as cast ingots of a few kilograms each, packed in steel drums, on pallets or in one-tonne bags.

Quotation versus Transaction Price: Reading the Spread

The two price columns serve different purposes. The quotation column records the level at which Chinese producers were offering material on the day, while the transaction column records the range within which business was actually concluded. On February 10, 2023 the 95# grade was offered at 2350-2360 USD/ton, yet transactions were reported across a wider band of 2350-2390 USD/ton. The 97# grade was offered at 2390-2410 USD/ton against a transaction band of 2370-2390 USD/ton.

The width of the transaction band is itself a useful signal. A wide band indicates that deals were being struck on differing terms depending on volume, packing, payment method and shipment date, whereas a narrow band points to a more homogeneous consensus on value. Buyers comparing offers should therefore confirm which column a counterparty is quoting from before treating two numbers as comparable.

Key Cost Drivers Behind Chinese Manganese Ingot Prices

Electrolytic manganese metal is one of the more electricity-intensive ferroalloy products, so power cost is the single largest swing factor in the Chinese cost curve. Output is concentrated in provinces where both manganese ore and hydroelectric or thermal power are available, and seasonal changes in power availability feed quickly into offer levels.

Alongside electricity, the following elements typically move the assessment:

Manganese ore feedstock cost and the ore-to-metal conversion yield.

Electricity tariffs and any regional power rationing during peak demand periods.

Consumption of selenium dioxide and other purification reagents.

Logistics cost from inland smelters to the export port, plus container availability.

Domestic demand from steel mills and aluminium alloy plants, which competes with the export book.

Exchange-rate movement between the renminbi and the US dollar, since export offers are denominated in dollars.

The publication date of this assessment, February 10, 2023, fell shortly after the Chinese New Year holiday period, when smelters were still ramping output back up and logistics capacity was rebuilding. In that window offer levels often adjust more sharply than in mid-quarter, as producers test demand from returning buyers.

Applications and Downstream Demand for Manganese Ingot

Manganese metal ingot is consumed in three broad areas. In steelmaking it acts as a deoxidiser and desulphuriser, and it is added to certain stainless and special steels to control the manganese-to-sulphur ratio and hence the shape of sulphide inclusions. In aluminium metallurgy it is used to produce manganese-aluminium master alloys that improve strength and corrosion resistance in beverage can stock, foil and automotive sheet. In the chemical sector, high-purity manganese metal feeds the production of manganese salts, battery materials and electronic compounds.

Because these end markets have different quality requirements, a single market-wide price can only be indicative. A buyer sourcing for aluminium alloying may accept 95# ingot with a wider impurity tolerance, while a special-steel producer may insist on 97# material with tightly capped iron and carbon. Order specifications should always state the grade, the maximum impurity levels, the packing format and the delivery basis.

Verifying an FOB offer. FOB terms place responsibility for inland transport, export clearance and loading on the seller, and responsibility for ocean freight and insurance on the buyer. When comparing FOB offers from different Chinese suppliers, purchasers should align the following variables before treating prices as equivalent:

Manganese content basis and the analytical method used for the certificate of analysis.

Impurity limits for iron, selenium, silicon, carbon, phosphorus and sulphur.

Packing format and net weight per drum, bag or pallet.

Port of loading and the agreed shipment window.

Payment terms, whether an irrevocable letter of credit at sight or another arrangement.

Inspection regime, including whether third-party sampling and analysis at the loading port is required.

Documentation on an export shipment normally includes the commercial invoice, packing list, certificate of origin, certificate of analysis and the bill of lading. Agreeing the analytical basis in advance avoids disputes when the buyer's own laboratory reports differ marginally from the mill certificate.

Frequently Asked Questions

Q: What do the 95# and 97# grades mean for manganese ingot?
They state the minimum manganese content. 95# guarantees at least 95 percent manganese and 97# at least 97 percent, with the balance made up of iron and other residual elements.

Q: What were the February 10, 2023 manganese ingot prices?
95# was quoted at 2350-2360 USD/ton with transactions at 2350-2390 USD/ton, and 97# was quoted at 2390-2410 USD/ton with transactions at 2370-2390 USD/ton, all on an FOB basis.

Q: Are these prices delivered or FOB?
All figures in the assessment are FOB China. Ocean freight, insurance and destination charges are additional and are arranged by the buyer.

Q: Why is 97# more expensive than 95#?
Reaching 97 percent manganese requires additional refining and tighter process control, which lowers impurity levels and raises production cost per tonne.

Q: What drives manganese ingot price volatility?
Electricity cost and power availability are the dominant factors, followed by manganese ore feedstock prices, reagent costs, inland logistics and the balance between domestic and export demand.

Q: How should a purchaser compare two FOB offers?
Compare the manganese content basis, impurity limits, packing, port of loading, shipment window, payment terms and inspection arrangements before comparing the headline number.