Manganese Ore Price
The Manganese Ore price for Mn Ore South Africa (Mn 38% Fe 5%) - North, US$/mtu as reported by Shanghai Metals Market on 19 May 2025 was:
CNY/mtu, traded price
33.75
1.50 (4.7%) week-on-week
US$/mtu, equivalent price, 13% VAT included
4.67
0.22 (4.9%) week-on-week
US$/mtu, equivalent price, 13% VAT excluded
4.13
0.19 (4.9%) week-on-week
Source: Shanghai Metals Market
Disclaimer: The above price as published by Shanghai Metals Market reflects the traded price for manganese ore with a manganese content between 36-37% in Northern China. The majority of manganese ore imported into China is through Tianjin port. This price is therefore indicative of transaction prices achieved by traders who have material at Tianjin port. On the basis, it is a domestic sales price quoted in Chinese Yuan (“CNY”) it includes value added tax ("VAT") at 13%.
Also included above, for reference, are the equivalent prices on a United States Dollar ("US$") basis both including VAT and excluding VAT.
When traders import material into China they will also be liable for port charges which are in addition to the equivalent US$ denominated price which they may have purchased the material at.
Given this price reflects the portside price in China, it is not reflective of the sales price achieved by Jupiter. Jupiter only sells material, before the material is exported from South Africa, in US$ and we have no presence in the portside market in China.
The price shown above is however reflective of the overall manganese ore market, and trend over a period of time.
Understanding Manganese Ore Price Reporting
There are multiple global price reporting agencies who publish their assessment of manganese ore prices. Manganese ore prices may be published with reference to dominant seaborne trade routes alternatively they may be based on portside trade at major ports, or the portside market. The former is typically denominated in US dollars and the latter typically denominated in the local country currency of that port. Published manganese ore prices will also differ based on product specifications, including manganese ore content as well as other chemical specifications.
The methodologies used by these parties in determining their index, or published price, may differ. As an example, one party may include market participants assessments in determining their published price, whereas another party may only take into account actual transactions.
The parties may also publish prices at different frequencies (e.g. daily, weekly, monthly).
Based on the above, over the short term there may be deviations in observed prices published by different sources however over the medium to long term the overall price trend for manganese ore with the same chemical composition will be similar.
