- Silico manganese prices soften amid weak demand
- Imported ore and global offers remain mostly stable
State-owned mining company MOIL has announced a revision in the prices of its manganese ore, effective from October 1, 2025. As per the official release, prices for all ferro grades-both with manganese content above and below 44%-have been increased by 6.4%. Similarly, prices across all SMGR categories, including Mn30% and Mn25%, have been raised by 5.2% on a m-o-m basis.
Factors affecting prices
Global miners reflects mixed offers for Oct’25: In October 2025, United Manganese of Kalahari (UMK), a major South African manganese ore producer, lowered its offer for 36% grade semi-carbonate lumps to $4/dmtu CIF China, marking a $0.05/dmtu m-o-m decline.
In contrast, South32 raised its offers, increasing South African 37% ore to $4.1/dmtu and Australian 42% ore to $4.5/dmtu. Jupiter Mines Limited maintained its October offer for 36.5% high-grade semi-carbonate ore at $4.05/dmtu, unchanged from the previous month. Similarly, Eramet Comilog kept its Gabon-origin offers flat at $4.27/dmtu (Mn44.5%) and $4.07/dmtu (Mn43%).
Imported high-grade ore prices maintains stability m-o-m: South African-origin manganese ore (37%) prices increased slightly to a monthly average of $4.18/dry metric tonne unit (dmtu) in September, compared with $4.17/dmtu in August. Meanwhile, for manganese ore of Australian (46%) origin, prices rose to $4.73/dmtu in September as against $4.71/dmtu in August. Gabon-origin ore (Mn44%) also moved up to $4.42/dmtu in September, as against $4.4/dmtu in August.
Domestic silico manganese prices edge down m-o-m: Domestic prices of 60-14 grade silico manganese inched down by INR 1,400/t ($16/t) m-o-m to around INR 69,500/t ($783/t) exw Raipur in September, compared with INR 70,900/t ($799/t) in August, as per BigMint’s assessment. Hampered by weak demand from the downstream steel industry, the market remains subdued. Participants largely attribute the downturn to monsoonal disruptions, which have impeded logistics and constrained material flow across major consumption hubs.
India’s SiMn export offers inch down m-o-m: Silico manganese (60-14) export offers edged down by $28/t m-o-m to $819/t FOB India in September, compared with $847/t in August. Meanwhile, the 65-16 grade also dipped by $18/dmtu m-o-m at $913/t FOB India in September. India’s silico manganese export prices prices edged down m-o-m, pressured by subdued bids from international buyers, which exerted downward pressure on the market.
Indian billet prices dip m-o-m: Domestic billet prices edged down by 2% m-o-m to INR 36,800/t ($415/t) exw-Raipur in September, compared with INR 37,400/t ($421/t) in August.
Outlook
With MOIL’s recent price hike reflecting growing market confidence, the outlook is turning optimistic. Strengthening domestic and export demand, along with expectations of a steel sector revival and improved post-monsoon logistics, are set to support further market recovery.
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