Swipe sideways to see all columns →
| Year | Average price per mtu | Per tonne of 44% ore |
|---|---|---|
| 2022 | $5.97 | $262.68 |
| 2024 | $5.53 | $243.32 |
| 2025 | About $4.50 | About $198 |
Source: USGS Mineral Commodity Summaries 2026. The per tonne column is the unit price multiplied by 44.
The benchmarks
Fastmarkets publishes a high-grade manganese ore index, quoted CIF Tianjin in dollars per dmtu, and a Chinese port index in yuan. It also publishes a semi-carbonate index at 36.5% Mn, quoted CIF Tianjin and FOB Port Elizabeth. S&P Global Platts also assesses manganese ore. Some of these prices sit behind subscriptions, so the free route is often the publisher's index page or the annual averages that USGS reports.
The index specifications set a base grade and limits for the elements that matter: for the high-grade index, a base of 43.5% Mn accepted from 40 to 47%, with limits on iron, phosphorus, alumina, silica and moisture. The specifications have been amended more than once, so check the version in force.
Why two sources show different prices
Quotes differ by grade, brand, port, currency and delivery terms. A price for 36.5% semi-carbonate ore is not comparable with one for 44% ore, and a CIF Tianjin price includes freight that a FOB Port Elizabeth price does not. Always write down the grade and the delivery basis next to any price you quote.
What the annual averages show
USGS reports the price fell from $5.97 per mtu in 2022 to $5.53 in 2024 and about $4.50 in 2025. It also reports that spot prices for 44% ore in China averaged 22% lower in the year to October 2025 than the 2024 annual average, which it links to market oversupply. The supply side matters: Ghana's output rose about 56% in 2025 to 2.0 million tonnes of contained manganese, and South Africa and Gabon together mine about 63% of the world's total.
Policy is a second driver. Gabon plans to stop exporting raw manganese from 2029 and Ghana has set a 2030 target, which is why export restrictions belong in any longer-term price view. See the guide to raw ore export restrictions.
Pricing your own parcel from a benchmark
Start with the benchmark for the nearest grade, multiply by your grade, then adjust for impurities, lump or fines, brand and delivery terms. The step-by-step method is in the post on how to calculate manganese ore price, and the calculators on this site do the arithmetic.
Related calculators
Frequently asked questions
What is the benchmark for manganese ore?
Fastmarkets' high-grade manganese ore index, delivered CIF Tianjin and quoted in dollars per dmtu, is a widely used reference. It has a base of 43.5% Mn.
What was the manganese ore price in 2025?
USGS reports high-grade ore delivered to China averaged about $4.50 per mtu in 2025, down from $5.53 in 2024.
Where can I find today's manganese ore price?
On the index publishers' pages, such as Fastmarkets or S&P Global Platts, or from SMM. Some data is behind a subscription. This site does not publish live prices.
What is 36.5% manganese ore?
Fastmarkets publishes a semi-carbonate manganese ore index with a 36.5% Mn base, quoted CIF Tianjin and FOB Port Elizabeth in dollars per dmtu.
Sources
- USGS Mineral Commodity Summaries 2026: Manganese
- Fastmarkets: manganese ore high grade index, CIF Tianjin, $ per dmtu
- Fastmarkets: manganese ore semi carbonate index, 36.5% Mn, CIF Tianjin, $/dmtu
- Fastmarkets: proposal to amend specifications of manganese ore high-grade indices
- S&P Global Platts: new manganese ore assessments
Specifications published by index providers are revised over time. Where a figure comes from a pricing notice, confirm the version currently in force with the publisher before you use it in a contract. Corrections are welcome.