- Buyers book around 28% of offered quantity
- Demand mainly focused on Mn30-32% grade
On 5 April 2025, Sandur Manganese and Iron Ore (SMIORE) held an auction for 18,144 t of manganese ore (Mn18-35%, -10-100 mm). Of the total quantity offered, 5,040 t (Mn20-35%) were successfully sold, with prices ranging from INR 2,520-12,210/t. Approximately 28% of the offered quantity was sold, leaving around 13,104 t unsold.
Buyers favoured manganese ore grade (Mn 30-32%) in Sandur’s auction, with three lots of this grade getting sold out, making them the highest-selling of all grades.
Key updates
Bids decline against last auction: Bids for Mn30-32% lumps were at INR 9,690/t ($113/t) in the auction on 5 April, compared to bids on 12 March, which stood at INR 9,960/t ($116/t), down by 3%.
However, bids for Mn20-22% grade were at INR 2,920/t ($34/t) in the latest auction, unchanged from the previous auction. During week 14, silico manganese prices declined by INR 220/t ($3/t), reaching INR 72,280/t ($842/t) exw-Vizag compared to INR 72,500/t ($845/t) in week 13. This decrease likely influenced the dip in bid prices.
Bids remain firm against base prices: In the recent auction, base prices and bids remained stable. For instance, the base price of Mn20-22% lumps was INR 2,920/t ($34/t), while the weighted average of bids for the same remained firm.
Similarly, the base price of Mn18-20% was INR 2,520/t ($29/t), while the weighted average of bids was the same. Another grade of Mn30-32% revealed the same pattern, with the base price at INR 9,690/t ($113/t) and the bid price at the same level.
This month’s stable bids stem from need-based purchases, strategic procurement, and year-end fiscal activities, as players focus on finalising their financial records.
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