- Approximately 71% of offered material sold
- Purchase demand concentrated on Mn 26-28% grade
On 24 March 2026, Sandur Manganese and Iron Ore Limited (SMIORE) conducted an auction offering 14,112 t of manganese ore, comprising fines and lumps across Mn 20-34% grades and sizes ranging from -10 mm to 100 mm.
The auction saw robust participation, with approximately 10,080 t (around 71%) successfully sold, while 4,032 t remained unsold. Buyer interest was particularly strong for Mn 26-28% grade ore, with seven lots receiving confirmed bids.
Auction bidding strengthens w-o-w
In the 24 March auction, bidding activity strengthened w-o-w compared to the 11 March session. The weighted average bid for Mn 20-22% grade lumps rose by INR 516/t ($6/t) to INR 4,368/t ($47/t), up from INR 3,852/t ($41/t) in the previous auction, signalling increased buyer interest in lower-grade ore.
Other grades also witnessed upward movement, with Mn 22-24% bids rising by INR 80/t ($1/t), Mn 26-28% by INR 69/t ($1/t), Mn 28-30% by INR 159/t ($2/t), and Mn 32-34% edging up by INR 44/t. These gains indicate robust demand across multiple manganese ore segments, reflecting overall market confidence.
Meanwhile, BigMint reported a w-o-w increase in silico manganese (60-14) prices in Vizag, which rose by INR 1,000/t ($11/t) to INR 74,200/t ($791/t) on 24 March, up from INR 73,200/t ($781/t) on 11 March, driven by a sharp surge in imported manganese ore prices and persistent supply tightness in the global market.
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