Manganese is a metal with important uses that can be found in many commonplace products. You may not notice it, but it also shows up in everything from the batteries that power our gadgets and gizmos to the steel that does the heavy lifting in our buildings and cars and, yes, some medicines that help us feel better when we are under the weather. Manganese price is subject to heavy fluctuations in time so it may rise or fall depending on other criteria. So, what can result in the variations in price of manganese? Let’s explore this together!
The price of manganese can be influenced by many factors. A significant issue is availability of manganese in the world. And if there’s plenty of manganese, the price may fall. This is because the more of something there is, the cheaper it typically is. When do you think there are a lot of apples at the grocery store — when the price is around seventy-nine cents a pound, or when there’s only a few apples left, and the cost is three apples for a dollar?
The other thing that can affect manganese prices is the cost of mining it out of the ground. Mining — the extraction of minerals and metals from the ground. Now, if it takes a lot of money to dig out manganese, then the cost will be higher. Just like if it costs a lot of money for a farmer to grow strawberries, then those strawberries in the store are probably going to be higher in price, too. If manganese can be mined easier and for cheaper, then more affordably for all.
Since October 2023 manganese prices have moved up quite a bit. For instance, in the early 2000s, the price per ton of manganese was approximately $1,500. It was a fair price back in the day. Until 2008, when the price rose to more than $3,500 per ton. That’s a big difference! Then in 2016 it was around $1,800 per ton, lower than in 2008 but still higher than the early 2000s. These fluctuations help us understand that manganese prices fluctuate over time and will depend on a variety of conditions.
Quantifying the global manganese market is another key component of understanding manganese prices. This means considering the possibility that prices shift based on what is actually going on in various countries worldwide. So, as long as there are plenty of people in other countries who want the manganese, the price here can continue to rise due to the high demand. Say a country is putting up a lot of new buildings and needs tons of steel to do so -- it may need more manganese when steel is made, pushing the price up.
The manganese price remains more or less stable if the manganese available is in proper proportion to the manganese wanted. This is how you balance supply with demand. Let’s unpack that… when there’s too much manganese in the market, and not enough demand to soak it up, then demand will tail off and the price will fall. So, if you had lots of toys to sell at Christmas but not many people were willing to buy them you would have to drop the price.
On the other hand, if there isn’t enough manganese available and demand is high to buy it, then the price will go up. Manufacturers like Xinda have to hustle to ensure they are making just the right amount of manganese to satisfy what people want. This smooths out the price of manganese, and makes life a lot easier for all of those who need manganese to make their products.
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