Eramet announced an overall increase in manganese ore production (+6%) and turnover (+46%) in Q3 2022, despite the declining global ferroalloy production and a surplus in Chinese port ore inventories.  

Eramets’ Moanda mine has completed its expansion, contributing to the six percent increase in ore production. Gabonese ore supplies the European and Chinese ferroalloy markets; however, the current weak global economic outlook is weighing on demand. With Europe's economic crisis potentially set to extend deeper into 2023, demand is forecast to be lacklustre for the remainder of the year, causing diverging regional trends for prices. 

China is the leading consumer of manganese ores and ferroalloys consumed in steel and development in China’s steel industry has shaped the overall manganese market trends. Steel growth in China has peaked which has contributed to the slowdown in global ore demand. While Project Blue expects the Chinese economy to see some recovery after the country’s Lunar New Year, carbon steel production is projected to remain flat in the country, continuing to impact growth opportunities for manganese ferroalloys.  

However, the demand for manganese within the battery sector is shifting at a positive rate. While only accounting for 3% of total demand, the increased high-manganese cathodes will see a shift in the manganese supply chain, albeit only a percentage of what the steel industry consumes.