- Bid-offer disparities prevent deal closures
- Export prices may fluctuate on cost pressures
India’s silico manganese export prices remained range-bound this week, witnessing fluctuations of $2/tonne (t), as bulk deals from key importing countries were notably limited. While producers held firm on their offers, a few transactions were concluded at lower-than-expected rates, which started to influence overseas asking prices. The market remained cautious, with buyers pushing back against high offers.
BigMint assessed 65-16 silico manganese export prices at $920/t FOB on 16 June 2025, edging up by $2/t w-o-w. However, the 60-14 grade was down slightly by $2/t at $840/t FOB.
Market overview
Market sees weak bulk buying from key importers: While Indian silico manganese export prices faced upward cost pressure, limited bulk buying from key importing regions such as Europe, MENA, South Korea, Japan, and Turkey at Indian ports restricted significant price increases.
Smelters highlighted that production costs exceeded current overseas asking rates, creating a pricing mismatch. The recent increase in production costs could be attributed to rising imported manganese ore prices and a scarcity of domestic high-grade ore.
Despite the bid-offer gaps, some deals were closed, providing support to the market. Deals for the 60-14 grade concluded at $820-830/t FOB Haldia/Vizag and the 65-16 variant closed at $920-930/t FOB Haldia/Vizag.
These transactions influenced market sentiment, nudging prices up, though broader momentum remains constrained by cautious international demand.
Imported manganese ore prices edge up amid rising inquiries: Imported manganese ore prices in India saw a marginal increase w-o-w due to a slight rise in inquiries and cost pressures globally.
Despite uncertain overall demand, producers raised their offers, leading to nominal price hikes across various grades.
- Australian high-grade ore (46% Mn): Prices were up by a slight $0.01/dry metric tonne unit (dmtu) at $4.68/dmtu.
- Gabonese high-grade ore (44% Mn): Prices edged up by $0.01/dmtu to $4.37/dmtu.
- South African lumps (37% Mn): Prices saw a slight rise of $0.2/dmtu to $3.95/dmtu.
In contrast, Eramet Comilog reduced its July 2025 manganese ore shipment prices by $0.15/dmtu m-o-m. Prices stood at $4.25/dmtu for Mn44.5% and $4.05/dmtu for Mn43%, CIF China. The company attributed this move to weaker alloy demand and rising inventories in major markets. Despite the uptick in interest, the market response has been cautious, and prices have remained range-bound.
A key smelter from Raipur informed BigMint about growing concerns regarding the availability of domestic high-grade manganese ore. This has led to a slight increase in inquiries for imported ore, which could potentially push prices upward in the near term. The shift reflects market sensitivity to supply constraints and the need for consistent quality in raw materials.
Outlook
India’s silico manganese export market is likely to experience price fluctuations in the near term, driven by rising imported manganese ore tags, which are increasing production costs for smelters, prompting them to maintain firm or higher asking rates. However, overseas buyers remain cautious, with limited bulk purchases and pushback on high offers.
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