India: Medium-carbon silico manganese prices ease slightly w-o-w amid cautious buying interest

• Cautious buying keeps silico manganese prices subdued
• Lower ore prices and maintenance limit procurement demand

India’s medium-carbon silico manganese (Mn 53%, Si 20%, C max 0.5%) prices declined marginally by INR 300/t ($3/t) w-o-w to INR 97,200/t ($1,014/t) in the week ended 15 October 2026. Limited buying interest and largely stable manganese ore prices kept market movements subdued.

Cautious buying limits price acceptance

Buyers remained reluctant to conclude deals at prevailing levels, restricting fresh trading activity in the market. Despite the marginal price correction, purchasing interest remained selective, with buyers showing limited willingness to commit to additional volumes. This restrained transaction activity and prevented sellers from securing stronger price realisations. The cautious approach kept the market largely rangebound, with the INR 300/t weekly decline reflecting limited downward pressure rather than a significant shift in underlying market conditions.

High-grade manganese ore prices edge lower

India’s imported manganese ore prices remained largely stable with a slight downward bias, as higher offers dampened buying interest among domestic smelters. Demand was further constrained by planned maintenance at several key smelters and the arrival of bulk ore shipments booked at lower prices, with deliveries expected shortly. These factors reduced immediate procurement requirements and limited fresh inquiries, putting mild pressure on prices despite firm supplier offers.

• Australian high-grade manganese ore (Mn 46%) prices remained largely stable, edging down marginally by $0.02/dmtu w-o-w to $5.40/dmtu CNF Haldia/Vizag.
• Gabonese high-grade manganese ore (Mn 44%) prices remained largely stable, declining slightly by $0.03/dmtu w-o-w to $5.02/dmtu CNF Haldia/Vizag.

Outlook

Prices are expected to remain largely stable in the near term, with limited buying interest likely to restrict trading activity. Further movement will depend on buyer acceptance and manganese ore price trends.