India’s imported manganese ore prices inch up w-o-w

• High-grade ore prices rise w-o-w
• Alloys prices ease on cautious buying

Imported manganese ore prices into India remained largely stable on a weekly basis with a slight uptick in higher grade, as major plants continued to hold sufficient inventory. This resulted in strategic buying by smelters, while limited supply at portside further supported price. Additionally, fluctuations in manganese alloy prices have also contributed to keeping imported ore prices steady.

• Australian high-grade ore (46% Mn): Prices increased slightly by $0.01/dmtu w-o-w to $5.01/dmtu CNF Haldia/Vizag.
• Gabonese high-grade ore (44% Mn): Prices rose by $0.01/dmtu w-o-w to $4.67/dmtu CNF Haldia/Vizag.
• South African lumps (37% Mn): Prices remained largely stable w-o-w at $4.25/dmtu CNF Haldia/Vizag.

Manganese alloys tags show downward trend: Domestic manganese alloys prices registered a slight dip on a weekly basis amid muted buying activity and lacklustre demand from the finished steel segment. Silico manganese (60-14) prices remained broadly stable, slipping marginally by INR 350/t ($6/t) w-o-w to INR 71,300–71,500/t ($804–807/t) across Durgapur, Raipur, and Vizag. With mills in key consuming regions adopting a cautious procurement approach, market sentiment stayed subdued, restricting any upward momentum and exerting mild downward pressure on prices.

In the export market, silico manganese (65-16) prices edged down by $1/t w-o-w to $927/t FOB Vizag/Haldia. Within ferro manganese, HC 70% prices fell by INR 500/t ($6/t) w-o-w to INR 72,700/t ($820/t) exw-Durgapur, while the same grade in Raipur saw a price increase of INR 600/t ($7/t) w-o-w to INR 73,700/t ($831/t). The divergence was driven by softer local buying sentiment in Durgapur contrasting with slightly tighter supply and firmer procurement in Raipur. Meanwhile, HC 75% ferro manganese export prices gained $10/t w-o-w to $915/t FOB Vizag/Haldia.

Imported cargo arrivals rise w-o-w: Weekly manganese ore cargo arrivals (Mn37%, Mn44%, and Mn46%) to India increased by 92% to 85,700 t over 29 October-4 November against 55,908 t in the previous week.

Outlook

Imported manganese ore prices are expected to remain at stable levels, with the likelihood of the price curve recording a slight upward movement, especially for high-grade ore.