- Approximately 70% of offered material successfully sold
- Buying interest primarily concentrated on Mn 22-24% grade
On 11 March 2026, Sandur Manganese and Iron Ore Limited (SMIORE) held an auction offering 18,648 t of manganese ore, including fines and lumps across Mn 18-35% grades and sizes ranging from -10 mm to 100 mm.
The auction witnessed strong participation, with approximately 13,104 t (around 70%) successfully sold, while 5,544 t remained unsold. Demand was primarily focused on Mn 22-24% grade ore, where five lots attracted confirmed bids.
Auction bidding trends flat w-o-w
In the 11 March auction, bidding trends remained steady compared to the 5 March auction. The weighted average bid for Mn 22-24% grade lumps held firm at INR 4,823/t ($52/t), unchanged from the previous auction.
Similarly, bids for Mn 26-28%, Mn 28-30%, and Mn 34-35% grades also showed no variation, indicating stable and consistent demand across these segments.
Meanwhile, BigMint’s assessment indicated a marginal uptick in silico manganese (60-14) prices in Vizag, rising by INR 100/t ($1/t) w-o-w to INR 73,200/t ($792/t) on 11 March, compared to INR 73,100/t ($791/t) recorded on 5 March.
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