- Rise in imported ore prices supports domestic offers
- Improved alloy demand lifts manganese ore prices
In March 2026, Indian manganese ore offers were firm to slightly higher m-o-m, supported by steady steel demand, tight supplies, and cautious optimism among miners, reflecting a generally positive market sentiment.
Additionally, state-owned miner MOIL Limited has announced a price revision for manganese ore, effective 1 March 2026, increasing rates of all ferro grades –both above and below 44% Mn content — by 2%. Within the SMGR segment, Mn30% prices were raised by 2%, while Mn25% and Mn20% grades were retained at February 2026 levels, reflecting a selective upward adjustment across key categories.
Region-wise price adjustments
Madhya Pradesh: Prices of manganese ore in Madhya Pradesh rose 2% for 28-30% to INR 7,650/t ($83/t) and 30-32% to INR 10,100/t ($110/t), 3% for the 37% grade to INR 17,000/t ($185/t), and 5% for the 44%-46% grade to INR 21,125/t ($230/t) m-o-m.
Miners attributed the increase to higher domestic procurement by ferro alloy producers and recent price hikes in manganese ore by major suppliers such as MOIL, which lifted benchmark prices across the market. Industry participants noted that tightening availability of higher-grade material and rising mining and transportation costs also encouraged sellers to revise offers upward, while steady demand from alloy manufacturers supported the improved pricing environment.
Odisha: Prices of manganese ore in Odisha rose by 1% for Mn 24-26%, 3% for Mn 28-30% Mn, and 4% for Mn 30-32% m-o-m. The increase was mainly supported by tight availability of spot material in the domestic market, as some miners limited fresh offers while monitoring price trends. At the same time, rising imported manganese ore prices, particularly from South Africa and Gabon, increased replacement costs for ferro alloy producers. This prompted buyers to secure domestic supplies, enabling miners in Odisha to raise their offers slightly.
Andhra Pradesh: Prices of manganese ore below 25% grade rose 3% to INR 5,400/t ($59/t) m-o-m. Local miners cited stronger demand from regional ferro alloy manufacturers and constrained supply due to seasonal mining restrictions. Increased labour and fuel costs have further pressured prices upward. Market participants indicate that tighter inventories and stricter environmental compliance have limited available material, supporting a bullish pricing environment. The combination of steady demand and supply-side challenges is expected to sustain upward price momentum.
Factors affecting prices
Imported high-grade ore prices inch up m-o-m: Imported high-grade manganese ore prices gained m-o-m in February 2026, with South African 37% grade averaging $4.62/dmtu, up $0.20/dmtu from January, Australian 46% ore rising $0.08/dmtu to $5.55/dmtu, and Gabonese 44% material increasing $0.08/dmtu to $5.19/dmtu, as stronger buying interest from China, the world’s largest importer, tightened global supply and underpinned prices.
Domestic silico manganese prices rise m-o-m: Domestic prices of 60-14 grade silico manganese increased m-o-m by INR 2,000/t to INR 73,800/t ($810/t) exw Raipur in February, according to BigMint’s assessment. Firm spot transaction levels and a sharp increase in raw material costs supported the uptrend, and the absence of cheaper material in the market further curtailed any downside risk.
India’s silico manganese export offers increase: Silico manganese export offers rose in February, with 60-14 grade prices increasing by $9/t m-o-m to $824/t FOB India from $815/t in January. Prices of the higher-grade 65-16 material also increased by $8/t m-o-m to $920/t FOB India. Improved buying interest amid rising raw material costs and limited spot availability encouraged sellers to revise offers upward, resulting in modest gains across major export grades.
Global manganese ore miners raise Mar’26 offers: Global manganese ore miners lifted March offers amid tightening supply conditions. South32 raised its March offers for South African Mn37% ore to $4.5/dmtu, up $0.10/dmtu, supported by supply disruptions in South Africa and steady steel demand. Meanwhile, Eramet Comilog set March shipment prices at $4.98/dmtu CIF China for Mn44.5% lumps and $4.78/dmtu for Mn43% chips, both higher by $0.08/dmtu m-o-m.
Indian billet prices up m-o-m: Domestic billet prices edged up by 1% m-o-m to INR 40,900/t ($449/t) exw-Raipur in February, compared with INR 40,500/t ($446/t) in January.
Outlook
Manganese ore offers in India may stay elevated in the near term, underpinned by constrained domestic supply, steady procurement by alloy producers, rising imported ore prices, and positive price signals from global miners.
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