- Falling manganese ore prices reduce cost support
- Cautious buyers delay bookings amid volatile freights
Indian silico manganese export prices declined further w-o-w on 11 May 2026 amid limited overseas inquiries and cautious buying sentiment. Prices of 65-16 grade slipped by $3/tonne (t) to $917/t FOB, while the 60-14 grade fell by $8/t to $842/t FOB as competitive offers and weak spot activity pressured the market.
Softer manganese ore prices reduce export offer support
Recent corrections in imported manganese ore prices weakened the overall cost support for silico manganese producers, encouraging exporters to revise offers lower to secure bookings. Australian Mn46% was down $0.06/dmtu w-o-w to $6.5/dmtu, Gabon Mn44% fell $0.04/dmtu to $6.1/dmtu, and South African Mn37% dropped $0.15/dmtu to $5.37/dmtu CNF Haldia/Vizag.
Suppliers observed slower raw material procurement activity and reduced urgency in ore stocking, reflecting cautious production planning. With input costs showing limited upward momentum, exporters gained flexibility to negotiate lower FOB prices, particularly for spot cargoes, amid an increasingly price-sensitive international market environment.
Weak global buying and inventory overhang pressure
Export prices declined as alloy consumption remained weak across key importing regions, leading to subdued spot inquiries and delayed booking decisions from international traders. Buyers continued to run on existing inventories while avoiding fresh commitments amid volatile freight costs and fluctuating currency exchange rates. Competitive offers from alternative origins and uneven recovery in Chinese alloy demand weighed on sentiment, prompting exporters to cut FOB levels to secure spot volumes.
Outlook
Indian silico manganese export prices are expected to remain under pressure in the subsequent week as weak overseas demand, competitive global offers, and softer ore costs limit recovery, though restocking may provide support.
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