India: Bids soften m-o-m in Sandur’s manganese ore auction

• 35% of total quantity offered receives bids
• Mn28-30% remains most preferred grade

On 25 September 2025, Sandur Manganese and Iron Ore (SMIORE) conducted an auction for 31,248 tonnes (t) of manganese ore, comprising both fines and lumps with manganese content ranging from 20% to 34% and particle sizes varying from -10 mm to 100 mm.

The auction saw moderate participation, resulting in bookings of approximately 11,088 t, around 35% of the total quantity offered, while the remaining 20,160 t remained unsold.

Bid prices ranged between INR 2,330 and INR 7,360/t, depending on grade and size, with only marginal changes compared to the previous month. Among the different grades, material with 28-30% manganese content garnered the highest buyer interest, with nearly 12 lots booked, highlighting the continued preference for mid-grade ore.

Key updates

Bid prices ease from previous auction levels: Bids for manganese ore softened in the auction concluded on 25 September. Weighted average bids for lumps with 28-30% Mn content at INR 7,327/t ($83/t) were 2% lower from the previous auction on 29 August in which the price was INR 7,470/t ($84/t).

Similarly, bids for 18-20% Mn grade fell to INR 2,470/t ($28/t), reflecting a 2% m-o-m drop. Offers for the 20-22% Mn grade also registered a 2% decrease, settling at INR 2,860/t ($32/t).

Bidding stays mostly aligned with base prices: The recent auction reflected price stability, with bids closely aligned to the set base prices. For instance, 18-20% manganese lumps were offered at a base price of INR 2,470/t ($28/t), and the weighted average bid matched this exactly, indicating a steady market sentiment.

Similar trends were observed across other manganese grades,18-20%, 20-22%, 26-28%, and 28-30%,with bid prices consistently holding firm at their respective base levels, underscoring a broadly stable pricing environment.

BigMint’s assessment for silico manganese (60-14) prices in Vizag dropped by 2% m-o-m in September, dropping from INR 70,800/t ($798/t) in August to INR 69,200/t ($780/t) recorded in September. Lower steel prices and drop in export bookings of silico manganese resulted in the drop in prices.