India: Imported high-grade manganese ore prices dip w-o-w amid tepid export demand for alloys

• Arrivals of imported ore cargo fall by 42% w-o-w
• Eramet cuts Mn ore prices for Jun’25 shipments

India’s imported manganese ore prices edged down this week, particularly in the high-grade segment. This drop was driven by decreased demand for manganese alloys from overseas markets. The reduced demand made ore buyers more cautious, leading to lower purchase commitments and softening prices in the domestic market.

• Gabonese high-grade manganese ore (44%) was priced at $4.51/dry metric tonne unit (dmtu), down by $0.07/dmtu due to weak demand for high-grade manganese alloys.
• Australian high-grade manganese ore (46%) prices fell by $0.07/dmtu to $4.83/dmtu, indicating potential softening in demand.
• South African lumps Mn 37% grades were up slightly by $0.02/dmtu to $3.91/dmtu, suggesting limited upward momentum amid need-based demand.

Market review

Indian Mn alloy export prices remain under pressure: Imported high-grade manganese ore prices dipped w-o-w due to reduced inquiries and lower purchase volumes, influenced by a sluggish export market for Indian manganese alloys. Amid weak demand, export prices of the 65-16 grade inched down by $1/tonne (t) w-o-w at $930/t FOB Vizag/Haldia, India.

Meanwhile, domestic silico manganese prices edged up by INR 500/t ($6/t) w-o-w to INR 70,200-70,900/t ($820-828/t) in the key regions of Durgapur, Raipur, and Vizag. Although there was weak demand from steel mills, the withdrawal of discounts by some smelters supported the price rise. Falling raw material costs had minimal effect on overall production expenses.

Ferro manganese (HC 70%) prices experienced a slight decline of INR 100/t ($1/t) w-o-w to INR 71,900/t ($840/t) exw in Durgapur. Meanwhile, prices, exw-Raipur, slipped by INR 50/t ($1/t) to INR 72,250/t ($844/t). The market remained cautious amid uncertain demand and pricing trends.

Eramet Comilog cuts ore prices for Jun’25 shipments: Eramet Comilog, a major manganese ore exporter from Gabon, set its June 2025 shipment prices for Mn44.5% lumps at $4.4/dmtu and for Mn43% at $4.2/dmtu, marking a $0.4/dmtu decrease m-o-m for both grades. The price decline could be attributed to subdued demand and high port inventories in China.

Imported cargo arrivals remain satble w-o-w: Weekly manganese ore cargo arrivals to India dip by 1% (Mn37%, Mn44%, and Mn46%) to 49981 t over 30 April-06 May 2025 against 50450 t in the previous week.