- Weak rupee, sluggish alloy demand drag imported ore trade
- Cargo arrivals fall by 23% w-o-w at Indian port
India’s imported manganese ore prices are trending lower on weekly basis amid an uncertain outlook for manganese alloys in both domestic and overseas markets. INR depreciation against the USD has also curbed buying interest, as imported material has become costlier in rupee terms. As a result, trade activity remains limited, putting further pressure on ore prices.
- Australian high-grade ore (Mn 46%)down by $0.07/dmtu w-o-w to $6.24/dmtu CNF Haldia/Vizag.
- Gabonese high-grade ore (Mn 44%) decreased $0.04/dmtu w-o-w to $5.86/dmtu CNF Haldia/Vizag.
- South African lumps (Mn 37%) sightly down by $0.27/dmtu w-o-w to $4.96/dmtu CNF Haldia/Vizag.
Market overview
Weak alloy demand, high dollar rates weigh on imported ore imports: Indian smelters have reduced imported manganese ore procurement inquiries amid the sharp depreciation of the Indian rupee against the US dollar, with INR recently touching record-high levels of around INR 96-97 per 1 USD. Since most ore purchases are dollar-denominated, the weaker rupee has significantly increased landed and production costs for alloy producers. At the same time, sluggish manganese alloy demand in both domestic and export markets, ongoing liquidity constraints, and geopolitical uncertainties have further weakened buying sentiment. As a result, smelters are largely restricting purchases to need-based requirements, leading to subdued trade activity and continued downward pressure on imported ore prices.
Manganese alloys prices continue downtrend amid weak demand: Indian manganese alloys prices weakened further w-o-w amid subdued steel demand and liquidity pressure. Silico manganese (60-14) prices declined by INR 1,050/t ($11/t) to INR 73,800-74,600/t ($771-780/t), while HC 65-16 export prices fell by $29/t to $883/t FOB Vizag/Haldia due to weak overseas demand.
Ferro manganese (70%) prices also dropped by INR 1,100/t in Raipur and INR 900/t in Durgapur amid limited enquiries and slow trade activity. Meanwhile, 75% grade export prices declined by $26/t w-o-w to $874/t FOB Vizag/Haldia.
Imported manganese ore arrivals down w-o-w: Weekly manganese ore cargo arrivals (Mn37%, Mn44%, and Mn46%) to India decreased by 23% to 84,050 t over 06 – 09 May 2026 against 109,450 t in the previous week.
Outlook
Imported manganese ore prices in India are expected to remain range-bound amid weak alloy demand, cautious buying, and tight liquidity. A weaker INR against the USD is raising landed costs, while higher Jun’26 offer prices from United Manganese of Kalahari (UMK) may offer limited support.
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