- South32, Jupiter Mines ramp up manganese ore output, boosting global supply
- Eramet Comilog trims September ore offers as spot demand remains subdued
India’s imported manganese ore prices remained under pressure as demand-side weakness coincided with an increasingly oversupplied seaborne market. While domestic smelters continued to limit procurement to immediate requirements amid sluggish downstream steel demand and weak alloy margins, the sharper downside stemmed from growing supply availability. Higher production from major global miners, including South32 and Jupiter Mines, resulted in increased inventories at export ports, reducing sellers’ pricing power.
- Australian high-grade ore (Mn 46%) inched down by $0.04/dmtu w-o-w to $5.24/dmtu CNF Haldia/Vizag.
- Gabonese high-grade ore (Mn 44%)decreased $0.09/dmtu w-o-w to $5/dmtu CNF Haldia/Vizag.
- South African lumps (Mn 37%) were down by $0.07/dmtu w-o-w to $4.43/dmtu CNF Haldia/Vizag.
Market overview
Key global manganese ore miners report strong output numbers: Global manganese ore supply continued to strengthen as major producers ramped up output. South32 reported a sharp increase in FY’26 (Jul’25–Jun’26) manganese ore production to 5.116 mnt, driven by a sharp recovery in its Australian operations, where output nearly tripled to 3.031 mnt following last year’s disruptions. The company also sold 3.59 mnt from its Australian operations as it continued to reduce inventories.
Meanwhile, Jupiter Mines recorded a 14% q-o-q increase in Q4 FY’26 manganese ore production to 0.966 mnt, supported by higher graded ore mining and increased barrier pillar activity. High-grade ore output rose 16% q-o-q, while production costs remained stable at $2.48/dmtu FOB. The production gains from both miners are expected to keep seaborne manganese ore availability ample, adding pressure on prices amid subdued downstream demand.
Eramet Comilog cuts September manganese ore offers: Eramet Comilog, a leading Gabonese manganese ore supplier, reduced its September 2026 offer prices by $0.20/dmtu m-o-m to $4.90/dmtu CIF China for Mn44.5% lumps and $4.70/dmtu for Mn43% chips. The price reduction reflects cautious buying by Chinese manganese alloy producers, who continue to procure only on a need-based basis amid weak downstream steel demand and subdued alloy prices. At the same time, ample seaborne manganese ore availability has intensified competition among suppliers, prompting lower offers to stimulate trading. Despite the price cuts, spot market activity remains muted as weak alloy margins and uncertain steel demand continue to weigh on procurement sentiment. Notably, improved rail efficiency supported Eramet’s external manganese ore sales, which increased 4% to 2.789 mnt in H1CY26.
Imported manganese ore arrivals in India down w-o-w: Weekly manganese ore cargo arrivals (Mn37%, Mn44%, and Mn46%) to India decreased by 6% to 205,782 t over 19-25 July 2026 against 218,804 t in the previous week.
Outlook
Imported manganese ore prices are expected to remain under pressure in the near term as rising seaborne supply continues to outpace demand. Increased production from major miners such as South32 and Jupiter Mines, coupled with elevated inventories at export ports, is likely to keep ore availability ample. On the demand side, Chinese alloy producers and Indian smelters are expected to maintain need-based procurement amid weak downstream steel demand and subdued alloy margins.
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