India: Imported manganese ore prices remain range-bound w-o-w

• Manganese alloys prices recover amid tight supply
• Smelters make cautious purchases on weak demand

Imported manganese ore prices saw mixed trends, with slight fluctuations, though alloys prices witnessed a recovery amid tight supply.

• Australian high-grade ore: Australian high-grade (46% Mn) ore dipped by $0.07/dry metric tonne unit (dmtu) to around $4.80/dmtu w-o-w.
• Gabonese high-grade ore: Prices of Gabonese high-grade (44% Mn) ore edged down by $0.07/dmtu w-o-w to $4.51/dmtu, despite rising production and handling costs and ongoing rail maintenance impacting supply.
• South African lumps: South African lumps (37% Mn) saw a slight rise of $0.11/dmtu w-o-w to $4.02/dmtu, the highest in three months due to production cuts in the region.

Market overview

Smelters adopt cautious stance amid market uncertainty: Indian manganese alloy smelters adopted a cautious procurement strategy, as they navigate a market clouded by weak demand and limited ore supply, both of which are squeezing profitability. To minimise financial risks, smelters held back on aggressive purchases of imported ore.

A key smelter from Durgapur informed BigMint that imported manganese ore prices may soften slightly, with China showing limited interest in bulk vessel purchases. This development could influence Indian manganese alloy prices in the near term.

Indian manganese alloys prices edge up: Indian manganese alloy prices witnessed a notable uptick due to limited domestic availability, following production cuts. Silico manganese prices jumped by INR 1,100/t ($13/t) w-o-w to INR 71,100-72,200/t ($832-845/t) in the key regions of Durgapur, Raipur, and Vizag. The price rise was fuelled by constrained supply, which led buyers to secure material quickly, often agreeing to pay higher rates to ensure timely procurement. Ferro manganese (HC 70%) prices rose by INR 400/t ($5/t) w-o-w to INR 72,300/t ($846/t) exw in Durgapur. Meanwhile, prices, exw-Raipur inched up by INR 50/t ($1/t) to INR 72,300/t ($846/t).

Imported ore arrivals to India down w-o-w: Imported manganese ore arrivals to India fell by 41% w-o-w, with shipments totalling 28,550 t over 7-13 May 2025 compared to 49,981 t in the previous week.