- Smelters defer fresh bookings, pressuring imported manganese ore prices
- Weekly cargo arrivals down at the Indian port
Imported manganese ore prices remained under pressure in the week ended 18 July 2026, primarily due to subdued buying interest from Indian smelters. Weak manganese alloy prices have compressed smelter margins, prompting buyers to defer fresh procurement. At the same time, most smelters continued to hold adequate inventories, limiting the need for additional stock-building. Furthermore, the recent decline in domestic manganese ore prices reduced the cost advantage of imported material, resulting in lower import buying activity and keeping imported ore prices on the downside.
- Australian high-grade ore (Mn 46%) inched down by $0.10/dmtu w-o-w to $5.35/dmtu CNF Haldia/Vizag.
- Gabonese high-grade ore (Mn 44%) decreased $0.07/dmtu w-o-w to $5.10/dmtu CNF Haldia/Vizag.
- South African lumps (Mn 37%)were down by $0.01/dmtu w-o-w to $4.60/dmtu CNF Haldia/Vizag.
Market overview
Smelters delay fresh ore bookings amid weak alloy offtake and inventory overhang: Demand for manganese alloys remained subdued in both the domestic and export markets, weighing on smelter sentiment. Domestic steel mills continued to delay procurement amid uncertainty in the finished steel market, resulting in weaker alloy offtake. A Raipur-based smelter informed BigMint that traders are holding ample inventories and offering material at competitive prices, intensifying market competition. Coupled with weak export demand, this has made smelters cautious about booking fresh manganese ore cargoes. Meanwhile, slowing buying interest from China has added pressure on major overseas miners, prompting them to lower offer prices to stimulate demand and secure sales.
Domestic manganese ore market softens amid cautious smelter buying: Domestic manganese ore prices weakened in July 2026 as MOIL’s downward price revision set the tone for the market, prompting private suppliers to realign offers. Subdued manganese alloy demand, cautious procurement by ferro alloy producers, and adequate raw material availability limited buying interest, resulting in price corrections across key producing regions, while Andhra Pradesh prices remained stable on balanced local market fundamentals.
Manganese alloy prices decline amid weak domestic and export demand: Indian manganese alloy prices remained under pressure in the week ended 18 July, as subdued steel demand and weak export inquiries weighed on market sentiment. Silico manganese (60-14) prices fell by INR 850/t w-o-w to INR 74,100-74,700/t, while HC FeMn (70%) prices eased marginally by INR 200/t amid cautious buying and ample spot availability. Export prices also weakened, with HC 65-16 SiMn and 75% HC FeMn declining by $4/t and $6/t, respectively, due to sluggish overseas demand.
Imported manganese ore arrivals down w-o-w: Weekly manganese ore cargo arrivals (Mn37%, Mn44%, and Mn46%) to India decreased by 62% to 97,938 t over 05-11 July 2026 against 257,592 t in the previous week.
Outlook
Imported manganese ore prices are expected to remain under mild pressure in the near term, weighed by weak alloy demand, cautious smelter procurement, and comfortable inventories. However, lower overseas miner offers amid subdued Chinese demand are likely to support trade activity, while firm freight costs may limit any sharp price decline.
Leave a Reply