- Only 24% of the offered volume was successfully booked
- Mn 28-30% grades witnessed the largest share of bookings
Sandur Manganese and Iron Ores Limited (SMIORE) conducted a manganese ore auction on 20 Jul’26, offering 31,752 t of lump ore across 20-34% Mn grades in 10-100 mm size fractions. Bid levels remained largely stable w-o-w, indicating steady market sentiment despite subdued buying activity.
The auction witnessed an offtake of around 7,560 t, representing just 24% of the total volume offered, while the remaining 24,192 t remained unsold. The Mn 28-30% grades attracted the strongest interest, accounting for the highest bookings, with approximately six lots sold in each grade.
Auction bids remain resilient despite softer alloy market
Bidding activity at Sandur Manganese and Iron Ores Limited’s (SMIORE) 20 July auction remained largely stable compared with the previous auction held on 10 July. The weighted average bid for Mn 20-22% grade remained unchanged at INR 3,853/t ($40/t). Meanwhile, Mn 26-28% and Mn 28-30% grades witnessed marginal declines of INR 4/t each to INR 7,867/t ($82/t) and INR 9,397/t ($98/t), respectively.
Higher-grade ores showed mixed movement. The weighted average bid for Mn 30-32% grade increased by INR 17/t to INR 9,819/t ($102/t), while Mn 32-34% grade edged down slightly by INR 3/t to INR 11,035/t ($115/t).
The stable bidding trend came despite continued weakness in the downstream alloy market. According to BigMint’s assessment, Indian silico manganese (60-14) prices in Visakhapatnam declined by INR 700/t ($7/t) w-o-w to INR 74,300/t ($772/t) on 20 Jul’26, compared with INR 75,000/t ($779/t) on 13 Jul’26, reflecting subdued demand and cautious procurement.
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