- Limited supply for exports as smelters prioritise domestic market
- Mixed trends seen in imported manganese ore prices
Indian silico manganese export prices remained largely stable this week, reflecting subdued buyer interest and volatility in imported manganese ore prices. Sellers’ efforts to push prices higher were met with resistance, prompting a reassessment of earlier pricing strategies. The market continues to tread cautiously amid uncertain demand signals.
BigMint assessed 65-16 silico manganese export prices at $932/t FOB on 19 May 2025, a marginal $1/t rise w-o-w. The 60-14 grade remained mostly unchanged at $838/t FOB, slipping $2/t w-o-w.
Market overview
Exporters toughen stance amid lower overseas bids: Exporters were facing limited supply due to smelters prioritising fulfillment of domestic orders due to higher profit margins, and avoiding new overseas orders at lower rates. Several exporters informed BigMint that the current asking rate for 65-16 grade is below $910/t FOB Haldia/Vizag, making new orders unfeasible as suppliers are receiving higher quotes from Indian smelters and the rise in domestic prices has limited the discount rate for material earmarked for exports. This situation reflects a cautious export environment amid declining global prices.
Exports take a backseat as domestic prices rise: Domestic silico manganese ore prices have risen by INR 800/t ($8/t) w-o-w across regions and are currently hovering at INR 71,300/t exw ($832/t) in Vizag. As the market is witnessing limited profit margin, so the smelters are keeping prices firm.
Imported manganese ore prices fluctuate: Imported manganese ore prices (Mn 37-46%) showed mixed trends w-o-w across grades. Gabonese Mn44% declined by $0.07/dmtu to $4.51/dmtu, while South African Mn37% rose by $0.02/dmtu to $3.91/dmtu. Australian Mn46% dropped by $0.07/dmtu to $4.83/dmtu CIF India.
Additionally, Eramet Comilog announced June shipment prices at $4.4/dmtu for Mn44.5% lumps and $4.2/dmtu for Mn43%, representing a $0.4/dmtu m-o-m decrease. This downward trend is exerting pressure on smelters and exporters to lower prices for Indian material.
Outlook
Export prices are expected to fluctuate in the near term due to a domestic supply shortage, which is limiting the availability of material for exports amid limited inquiries.
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