- MOIL keeps September manganese ore prices unchanged
- Cautious procurement limits scope for price increases
Indian manganese ore offers remained largely unchanged across key mining regions for September 2026, as miners maintained prevailing price levels amid cautious market activity.
Notably, state-owned MOIL Ltd has retained its manganese ore prices for September 2026 deliveries at August levels, keeping offers unchanged across ferro-grade, silico manganese grade fines (SMGR) and chemical-grade ores.
This follows price cuts implemented in August, when MOIL reduced ferro-grade ore above 44% Mn by 4% and below 44% Mn by 5%, while SMGR fines and chemical-grade ores were also lowered by 5%.
Region-wise price adjustments
Madhya Pradesh
Madhya Pradesh manganese ore offers remained unchanged across all grades in September. Mn 28-30% was at INR 6,900/t ($72/t), Mn 30-32% at INR 10,450/t ($110/t), Mn 37% at INR 17,600/t ($184/t), and Mn 44-46% at INR 20,800/t ($218/t), with no m-o-m change. After the price corrections seen in recent months, miners are maintaining current levels as replacement costs have stabilised, while buyers remain cautious and continue to purchase according to immediate requirements.
A key miner said, “Producers are comfortable holding current offers but are closely watching buying activity before considering any upward revision.”
Odisha
Odisha manganese ore prices showed limited movement in September. Mn 24-26% increased 1% m-o-m to INR 8,250/t ($86/t), while Mn 28-30% remained at INR 10,500/t ($110/t) and Mn 30-32% at INR 10,750/t ($113/t). The marginal increase in 24-26% material reflects relatively tighter availability in some mining areas, while higher grades remained stable amid selective buying. Miners are avoiding aggressive price reductions after the weakness seen earlier, although buyers continue to negotiate for competitive levels.
Andhra Pradesh
Andhra Pradesh’s below Mn 25% manganese ore offers remained unchanged at INR 6,000/t ($63/t) in September, with no m-o-m change. The market continues to be influenced by subdued spot buying and relatively limited demand for low-grade material. At the same time, miners have little incentive to reduce offers further after prices had already corrected previously. Stable availability and cautious procurement have therefore kept the market rangebound, with transactions largely taking place around prevailing offer levels rather than at significantly lower prices.
Factors affecting prices
Imported manganese ore prices slide m-o-m: Imported high-grade manganese ore prices dipped in August compared to July, with South African 37% grade averaging $4.3/dmtu (down $0.29/dmtu), Australian 46% ore at $5.22/dmtu (down $0.2/dmtu), and Gabonese 44% material at $4.95/dmtu (down $0.22/dmtu).Prices remained under pressure as subdued smelter demand and improved domestic manganese ore availability reduced the need for fresh imports, delaying procurement decisions.
Global manganese ore miners reduce October offers: South32 cut its October manganese ore offers to China, lowering South African 37% semi-carbonated ore by $0.30/dmtu to $4.20/dmtu CIF China and Australian 42% ore by $0.23/dmtu to $4.77/dmtu. Additionally, Eramet Comilog also reduced October offers by $0.20/dmtu m-o-m to $4.70/dmtu for 44.5% Mn lump and $4.50/dmtu for 43% Mn chips. The reductions reflected cautious Chinese procurement and ample seaborne availability.
Domestic silico manganese prices decrease m-o-m: Domestic 60-14 grade silico manganese prices fell by INR 1,200/t ($13/t) m-o-m to INR 73,900/t ($775/t) exw Raipur in August, as buyers remained cautious amid expectations of lower manganese ore and raw material costs. Although key producers had firm bookings and spot availability remained limited, subdued buying and weak negotiations restricted fresh transactions. Elevated freight costs and container shortages also weighed on export competitiveness, adding pressure to prices.
India’s silico manganese export offers soften: Silico manganese export offers corrected, with 60-14 grade prices declining by $9/t m-o-m to $809/t FOB India from $818/t in July. Meanwhile, prices of the higher-grade 65-16 material also moved down by 26/t m-o-m to $886/t FOB India. A decline in global manganese ore prices intensified competition among major exporters, encouraging buyers to negotiate lower prices amid abundant competitive offers.
Domestic billet prices up m-o-m: Domestic billet prices increased by 4% m-o-m to INR 39,500/t ($414/t) exw-Raipur in August, supported by material shortages and production curtailments, which tightened market availability and enabled producers to maintain higher offers.
Outlook
Manganese ore prices could see gradual upward pressure ahead, supported by improving silico manganese realisations and higher coke costs, although cautious alloy buying may keep gains measured.
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