- Close to 87% of material successfully receives bids
- Mn 30–32% ore continues to draw strongest buyer interest
On 12 January 2025, Sandur Manganese and Iron Ore (SMIORE) conducted an auction for 15,624 t of manganese ore, including both fines and lumps, with grades ranging from 18% to 35% and particle sizes from -10 mm to 100 mm. The auction recorded strong participation, with around 13,608 t, approximately 87% of the total volume successfully booked, while the remaining 2,016 t remained unsold.
Key updates
Bid level rise m-o-m: Bids for manganese ore rose m-o-m in the auction concluded on 12 January. The weighted average bid for lumps with Mn 18-20% content settled at INR 3,585/t ($40/t), a 32% rise from the previous auction held on 29 December, where prices stood at INR 2,725/t ($30/t).
Similarly, bids for ore with Mn 20-22% content rose by 18% m-o-m, while prices for the Mn 28-30% grade marginally up by 1% over the same period and 26-28% grade too edged up by 2%.
However, bids for the Mn 30-32%, 22-24%, 32-34%, 34-35% remained unchanged m-o-m.
BigMint’s assessment for silico manganese (60-14) prices in Vizag also edged up m-o-m in January with a rise 2%, to INR 70,600/t ($782/t) from INR 69,300/t ($768/t) in December, supported by improved acceptance of higher offers and firm price positions maintained by smelters.
Leave a Reply