- Imported ore prices rise amid supply constraints
- Domestic steel and alloy prices show modest gains
State-owned mining company MOIL has announced a revision in the prices of its manganese ore, effective from February 1, 2026. Prices for all ferro grades-both with manganese content above and below 44%-have been increased by 5%. Additionally, the prices for all SMGR categories, including Mn30%, Mn25%, and Mn20%, have remained the same as they were in January 2026.
Factors affecting prices
Imported high-grade ore prices rise m-o-m: Imported high grade manganese ore prices recorded m-o-m gains in January 2026, supported by limited availability at key exporting ports. Supply constraints stemmed from wet-season disruptions to mine output and logistical delays caused by infrastructure challenges in South Africa. South African-origin 37% ore averaged $4.39/dmtu, up $0.11/dmtu from December 2025. Australian-origin 46% ore rose by $0.27/dmtu to $5.45/dmtu, while Gabonese Mn44% ore increased $0.25/dmtu to $5.09/dmtu.
Domestic silico manganese prices went up m-o-m: Domestic prices of 60-14 grade silico manganese rose m-o-m by INR 2,300/t to INR 71,800/t ($781/t) exw Raipur in January, according to BigMint’s assessment. The increase was driven by higher manganese ore costs, especially for imported material, which exerted upward pressure on production costs. However, cautious procurement by steel mills limited buying interest, keeping transactions selective.
India’s silico manganese export offers inch up m-o-m: Silico manganese export offers strengthened in January, with 60-14 grade prices rising by $5/t m-o-m to $815/t FOB India, up from $810/t in December. Prices for the higher-grade 65-16 material also firmed, increasing by $8/t m-o-m to $912/t FOB India. The gains were primarily supported by a persistent ore shortage, as smelters continued to face delayed raw material deliveries at elevated costs, which in turn pushed alloy prices higher.
Global manganese ore miners raise February offers: Major manganese ore producers raised their February 2026 offer prices. South32 increased its offer for South African Mn 37% material to $4.40/dmtu, up by $0.25/dmtu month on month. Eramet Comilog, a key exporter from Gabon, set its February 2026 shipment prices at $4.90/dmtu CIF China for Mn 44.5% lumps and $4.70/dmtu for Mn 43% chips, both reflecting a $0.20/dmtu m-o-m increase. Meanwhile, Jupiter Mines Limited, operator of the Tshipi Borwa Manganese Mine in South Africa’s Kalahari manganese field, announced its February 2026 offer for high-grade (Mn 36.5%) semi-carbonate lumps at $4.32/dmtu CIF China, up by $0.17/dmtu.
Indian billet prices increase m-o-m: Domestic billet prices were up by 9% m-o-m at INR 40,500/t ($441/t) exw-Raipur in January, compared with INR 37,100/t ($404/t) in December. The rise was largely driven by higher raw material and energy costs, while steel demand remained subdued, limiting further upside in domestic prices.
Outlook
Manganese ore prices are expected to stay elevated in the short term, supported by tight supply and rising costs, while demand weakness may cap upside, keeping gains moderate and selective.
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