India: Bids drop in Sandur’s recent manganese ore auction on falling alloys prices

• Buying interest concentrated on Mn 26-38% grades
• Bids dipped marginally over declared base prices

Sandur Manganese and Iron Ores Limited conducted a manganese ore auction on 11 May 2026, offering 21,168 t of material comprising fines and lumps across grades ranging from Mn 18% to 34% and size fractions between 10 and 100 mm.

The auction recorded steady participation from market buyers, with nearly 9,576 t, accounting for around 45% of the offered quantity, successfully concluded, while 11,592 t remained unsold. Demand remained particularly firm for Mn 26-28% grade material, where nine lots attracted confirmed bids, indicating relatively stronger buyer preference for mid-grade ore segments amid prevailing market conditions.

Auction bids remained largely stable with minor m-o-m corrections

In the auction conducted on 11 May, bidding activity reflected relatively steady market participation compared with the previous auction held on 29 April. The weighted average bid for Mn 26-28% grade lumps edged down to INR 8,182/t ($85/t) from INR 8,530/t ($89/t) recorded in the earlier auction. Similarly, bids for Mn 28-30% grade material settled at INR 9,784/t ($102/t), down by INR 420/t ($4/t) m-o-m.

Meanwhile, bids for higher-grade ore also witnessed downward corrections, with Mn 30-32% and Mn 32-34% grades declining by INR 591/t ($6/t) and INR 297/t ($3/t), respectively, compared with the previous auction. However, bids for Mn 18-20% and Mn 20-22% grades could not be compared on a monthly basis, as these grades were introduced in the latest auction and were absent in the 29 April offering.

According to BigMint’s assessment, silico manganese (60-14) prices in Vizag declined sharply by INR 6,300/t ($66/t) m-o-m to INR 76,500/t ($798/t) in May 2026, against INR 82,800/t ($864/t) recorded on 26 April 2026. Decline in Indian manganese alloys prices and recent fall in billet prices have resulted in lower bids for manganese ore.

Additionally, Sandur Manganese and Iron Ores Limited is set to conduct another manganese ore auction on 18 May 2026, offering around 13,608 t of material (Mn 18-35%, sizes ranging from -10 mm to 100 mm) from its Bellary mines in Karnataka.