- Inquiries fall as smelters have already booked sufficient material
- Limited spot supply, reduced selling pressure prevent price drop
India’s imported manganese ore prices remained largely stable in the week ended 22 August 2026 despite softer spot market inquiries. The decline in inquiries was primarily driven by smelters securing bulk cargoes in advance, reducing their immediate dependence on spot material. At the same time, fluctuations in ocean freight rates continued to create uncertainty around landed costs, prompting buyers to remain cautious on fresh purchases. However, limited spot availability and reduced selling pressure prevented a significant price correction, keeping imported manganese ore prices broadly rangebound. Going forward, sustained weakness in spot inquiries could weigh on prices if smelters continue to remain covered through bulk shipments.
- Australian high-grade manganese ore (Mn 46%) remained unchanged w-o-w at $5.28/dmtu CNF Haldia/Vizag, supported by limited spot availability despite subdued Indian buying interest.
- Gabonese high-grade manganese ore (Mn 44%) remained stable w-o-w at $5/dmtu CNF Haldia/Vizag, with bulk cargo bookings and cautious spot buying keeping the market rangebound.
- South African manganese lumps (Mn 37%) held steady w-o-w at $4.28/dmtu CNF Haldia/Vizag, as weaker spot inquiries offset any support from limited availability.
Market overview
Smelters secure Mn ore cargoes in advance amid rising freight uncertainty: Smelters’ advance booking of bulk vessels has significantly reduced spot inquiries for imported manganese ore, as buyers took advantage of relatively lower ore prices during the last week of July and the first week of August, when prices hovered around $4.45/dmtu. At the same time, rising ocean freight costs, driven by higher crude oil prices and container shortages, increased uncertainty over future landed costs. Consequently, smelters opted to secure raw material through bulk shipments in advance, ensuring uninterrupted production while limiting their exposure to potential increases in ore and freight costs. This advance coverage has reduced near-term spot demand and kept the imported manganese ore market largely rangebound.
Manganese alloy market stays largely stable amid limited spot availability: Manganese alloy prices remained broadly stable w-o-w, with tight spot availability and limited seller willingness to lower offers providing a floor to the market, while subdued buying interest capped the upside. Silico manganese prices edged up by INR 150/t ($2/t) to INR 72,900-73,900/t ($762-772/t) across key regions, supported by limited availability of low-priced material and major producers remaining largely booked through August. However, the lack of aggressive spot buying prevented a stronger price recovery.
Ferro manganese prices eased marginally by INR 200/t ($2/t) w-o-w to INR 78,300-78,400/t ($818-819/t) exw Durgapur and Raipur. The correction remained limited as balanced supply-demand fundamentals and restrained selling pressure continued to underpin the market. Overall, the near-term price outlook remains stable, with any upside likely to depend on a sustained improvement in spot demand and raw material costs.
Imported manganese ore arrivals in India up w-o-w: Weekly manganese ore cargo arrivals (Mn37%, Mn44%, and Mn46%) to India increased by 20% to 76,702 t over 09-15 August 2026 against 63682 t in the previous week.
Outlook
Imported manganese ore prices are expected to remain largely stable with a mild downside bias, as advance bulk vessel bookings have reduced near-term spot demand. However, limited spot availability and firm freight costs are likely to cap the downside, with a sharper correction dependent on sustained weakness in smelter inquiries.
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