- Mn 26-28% sees highest volume of bookings
- 53% of offered volumes booked in auction
Sandur Manganese and Iron Ores Limited conducted a manganese ore auction on 5 June 2026, offering a total of 23,688 t of fines and lumps across manganese grades ranging from 18% to 32% and size fractions of 10-100 mm. Bids fell across all grades, indicating weak demand from the steel sector.
However, the auction attracted healthy market participation, resulting in successful bookings of approximately 12,600 t, representing nearly 53% of the offered volume, while 11,088 t remained unsold. Mn 26-28% grade material recorded the highest volume of bookings, with ten lots securing firm bids, underscoring robust buyer interest in this grade segment.
Bids decline m-o-m
Bidding activity in the 5 June auction softened compared with Sandur Manganese and Iron Ores Limited’s previous auction held on 22 May. The weighted average bid for Mn 26-28% grade material fell by INR 1,101/t ($11/t) to INR 7,081/t ($74/t). Likewise, bids for Mn 28-30% grade material declined by INR 952/t ($10/t) to INR 8,834/t ($92/t), while Mn 30-32% grade material registered a decrease of INR 1,009/t ($11/t), settling at INR 9,493/t ($99/t).
The weaker bidding trend reflected persistent pressure in the downstream silico manganese market. According to BigMint’s assessment, silico manganese (60-14) prices in Visakhapatnam declined by INR 700/t ($7/t) to INR 74,500/t ($778/t) in June 2026, from INR 75,200/t ($785/t) in May. Prices continued to face headwinds amid subdued downstream trading activity, as declining steel prices and tight liquidity encouraged buyers to defer bulk procurement decisions amid prevailing market uncertainty.
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