India: Imported manganese ore prices hold steady w-o-w, alloys show recovery

• China’s holiday break puts imported ore market on pause
• Weekly imported manganese ore cargo arrivals decrease

Imported manganese ore prices in India remained stable this week, as market activity was largely subdued following the closure of Chinese markets during the Golden Week. Limited demand for ore helped keep prices steady across all major origins. Meanwhile, Indian manganese alloys prices saw a mild recovery in recent weeks, supported by improved spot demand from steel mills and tighter supply conditions in select regions.

• Australian high-grade ore (46% Mn): Prices were stable w-o-w at $4.76/dmtu CNF Haldia/Vizag.
• Gabonese high-grade ore (44% Mn): Prices held steady w-o-w at $4.45/dmtu CNF Haldia/Vizag.
• South African lumps (37% Mn): Prices were flat w-o-w at $4.19/dmtu CNF Haldia/Vizag.

Market updates

China’s holiday lull freezes global Mn ore market: Imported manganese ore prices remained stable this week, as inquiries were limited due to the closure of Chinese markets from 1-8 October for the National Day and Mid-Autumn Festival holidays. The subdued trading activity during this period kept prices steady across major origins, with demand from other regions also remaining muted. The temporary shutdown in China – one of the key producing and consuming markets – further slowed supply activity and market momentum.

Alloy market strengthens despite weak steel demand: Indian manganese alloys prices increased w-o-w, supported by constrained spot market supply and low inventories held by traders and smelters. Silico manganese (60-14) prices rose by INR 1,050/t ($12/t) w-o-w to INR 70,300-71,000/t ($792-800/t) across key regions including Durgapur, Raipur, and Vizag, as buyers accepted higher rates while smelters prioritised fulfilling bulk commitments. Export prices of the 65-16 grade also climbed by $8/t w-o-w to $920/t FOB Vizag/Haldia. Similarly, ferro manganese (HC 70%) prices increased by INR 500-700/t ($6-8/t) w-o-w to INR 70,900-71,000/t ($799-800/t) in Durgapur and Raipur, while HC 75% ferro manganese rose by $29/t w-o-w to $915/t FOB Vizag/Haldia. Despite weak steel sector demand, supply shortages and tight inventories continued to support the upward trend in prices.

Imported cargo arrivals fall w-o-w: Weekly manganese ore cargo arrivals (Mn37%, Mn44%, and Mn46%) to India decreased by 8% to 153,705 t over 24-30 September against 167,318 t in the previous week.