Category II · Industrial & base metals

Manganese.

Critical steelmaking alloy. South Africa holds ~80% of global manganese reserves.

Benchmark

Mn 44% lump CIF China

Unit

US$ / dmtu

Current price · 3-mo forward avg

US$ 5.10 / dmtu

Apr — Jul 2026 (forward 3-mo avg)

Critical steelmaking alloy. South Africa holds ~80% of global manganese reserves.

Price · Mn 44% lump CIF China

2016 — 2035

201620182020202220242026202820302032203502468US$ / dmtuProjection →

Solid line: historical annual averages. Dashed line: forward projections (consensus).

Top 5 producing countries

  1. 01

    South Africa

    37%

    Kalahari Manganese Field — largest in world

  2. 02

    Gabon

    14%

    Moanda — highest-grade producer globally

  3. 03

    Australia

    15%

    GEMCO (South32) operations on Groote Eylandt

  4. 04

    China

    8%

    Largely domestic-consumption mines

  5. 05

    Ghana

    5%

    Nsuta open-pit

Leading companies

  1. 01

    South32

    Operates Hotazel (SA) and GEMCO (Australia)

  2. 02

    Eramet

    Comilog (Gabon) — premium high-grade ore

  3. 03

    Assmang

    ARM / Assore JV — SA Kalahari operations

  4. 04

    Vale

    Brazilian operations

  5. 05

    MOIL

    Indian state-owned producer

Of note

  • §

    South Africa hosts approximately 80% of global manganese reserves — the country is structurally essential to global steelmaking.

  • §

    Manganese demand is increasing on the EV side via LMFP / LFMP cathode chemistries.

  • §

    ~90% of manganese demand is steelmaking; remaining is battery, fertiliser, and chemicals.

Sources

USGS Mineral Commodity Summaries 2024 · International Manganese Institute. Curated quarterly. Forward projections are consensus indications and are not a guarantee of future prices.

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