- Global manganese ore market faces renewed downward pressure
- MOIL price cuts reinforce softer domestic ore sentiment
Indian manganese ore offers fell across key mining regions for August 2026 as softer alloy prices, weak buying interest and declining imported ore values prompted miners to lower offers for August.
Notably, MOIL Limited has revised its manganese ore prices, effective 1 August 2026. Prices of ferro-grade ores containing more than Mn 44% have been reduced by 4%, while ferro grades with Mn content below 44% have witnessed a 5% price cut. In the silico manganese grade (SMGR) category prices of fines and chemical-grade ores have also been lowered by 5%.
Region-wise price adjustments
Madhya Pradesh: Offers fall 4-5% as buyers push for lower replacement costs
Madhya Pradesh recorded a 4-5% decline across most manganese ore grades for August. Offers for 28-30% Mn fell to INR 6,900/t ($72/t) from INR 7,300/t ($77/t), while 37% Mn dropped to INR 17,600/t ($185/t) from INR 18,500/t ($194/t). The correction reflects lower silico manganese realisations and reduced buying interest, with consumers reluctant to replenish at earlier prices. Miners appear to have lowered offers to remain competitive and maintain volumes amid softer market economics.
Odisha: Competitive supply and cautious alloy buyers weigh on prices
Odisha manganese ore offers declined by 4-5% across key grades, with 28-30% Mn falling to INR 10,500/t ($110/t) from INR 11,000/t ($115/t), and 30-32% Mn to INR 10,700/t ($112/t) from INR 11,300/t ($119/t). The correction reflects weak offtake from ferro alloy producers and increased price competition among miners, limiting their ability to sustain earlier offers.
A key Odisha miner had earlier told BigMint that domestic ore demand remained weak, while monsoon-related disruptions also affected mining and logistics.
Andhra Pradesh: Low-grade ore sees milder 2% correction
Andhra Pradesh witnessed a more moderate 2% decline, with below-25% Mn ore offers easing to INR 6,000/t ($63/t) from INR 6,100/t ($64/t). The smaller correction compared with Madhya Pradesh and Odisha reflects the different market dynamics for Vizag’s low-grade ore, where availability and export-linked demand influence pricing. However, softer export enquiries and lower competing ore values have reduced buyers’ willingness to pay higher prices. Miners therefore made a limited adjustment rather than a sharp reduction, keeping offers relatively resilient.
Factors affecting prices
Imported manganese ore prices weaken m-o-m: Imported manganese ore prices softened in July from June levels, with South African 37% Mn averaging $4.59/dmtu, down $0.14/dmtu, while Australian 46% Mn and Gabonese 44% Mn fell by $0.34/dmtu and $0.35/dmtu to $5.42/dmtu and $5.17/dmtu, respectively. The decline was driven by sluggish buying from Indian alloy producers and Chinese importers, prompting overseas suppliers to adopt more competitive pricing to stimulate demand.
Eramet lowers September manganese ore offers: Gabon-based Eramet Comilog reduced its September offers by $0.20/dmtu m-o-m to $4.90/dmtu CIF China for Mn 44.5% lumps and $4.70/dmtu for Mn43% chips. The reduction reflects muted Chinese buying appetite and ample seaborne availability, with alloy producers largely purchasing only for immediate needs and suppliers competing more aggressively for volumes.
Indian silico manganese prices decline m-o-m: Indian 60-14 silico manganese prices fell by INR 1,200/t ($12/t) m-o-m to INR 75,100/t ($780/t) exw-Raipur in July. The market faced limited steel mill procurement, weak finished steel consumption and adequate alloy stocks, keeping buyers cautious. With sufficient spot material available, producers faced greater competition and struggled to push through higher offers, resulting in subdued spot activity.
Silico manganese export offers edge lower: India’s silico manganese export offers slipped by $4/t m-o-m, with 60-14 grade falling to $818/t FOB India from $822/t in June. The 65-16 grade also declined by $4/t to $913/t FOB India. Export sentiment remained subdued as overseas buyers stayed cautious and competing suppliers offered more attractive levels, limiting new bookings and keeping market activity restrained.
Domestic billet prices soften m-o-m: Domestic billet prices in Raipur declined 2% m-o-m to INR 38,100/t ($396/t) exw in July from INR 38,800/t ($403/t) in June. The market remained weak amid slower downstream offtake and sufficient finished inventories, which reduced mills’ urgency to replenish. Softer buying interest kept billet transactions subdued and weighed on producers’ ability to sustain June price levels.
Outlook
Manganese ore prices are likely to remain under pressure in August, as weak silico manganese demand, softer imported ore values and cautious buying limit miners’ pricing power, although recent cuts may restrict further downside.
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