India: Bids increase m-o-m in Sandur’s manganese ore auction

• 86% of offered quantity booked
• 26-28% Mn ore leads demand

On 12 November 2025, Sandur Manganese and Iron Ore (SMIORE) conducted an auction for 14,616 tonnes (t) of manganese ore, comprising both fines and lumps with manganese content ranging from 18% to 28% and particle sizes between -10 mm and 100 mm. The event saw m-o-m increases in bid prices across all grades.

The auction drew robust participation, with around 12,600 t (approximately 86%) of the total quantity successfully booked, while 2,016 t remained unsold.

Bid prices ranged between INR 2,450-7,890/t, depending on grade and size, reflecting a clear uptrend from the previous month. Among the various grades, material with 26-28% manganese content garnered the strongest buyer interest, with nearly six lots sold, highlighting the continued market preference for mid-grade ore.

Key updates

Bids climb up m-o-m: Bids for manganese ore registered an uptick in the auction concluded on 12 November. The weighted average bid for lumps with 26-28% Mn content stood at INR 7,715/t ($87/t), reflecting a 12% increase from the previous auction held on 16 October, where the average bid price was INR 6,880/t ($78/t).

Similarly, bids for ore with 20-22% Mn content rose 3% m-o-m to INR 3,083/t ($35/t).

Auction fetches premiums: The recent auction reflected an overall upward movement in prices, with bids surpassing the set base levels, signalling firm market sentiment. For instance, 26-28% manganese lumps were offered at a base price of INR 6,950/t ($78/t), while the weighted average bid reached INR 7,715/t ($87/t), marking an 11% increase. A similar pattern was observed across other grades,18-20%, 20-22%, 22-24%, and 24-25% Mn, where prices remained steady to slightly higher, reinforcing the trend of sustained demand and price stability in the market.

BigMint’s assessment for silico manganese (60-14) prices in Vizag edged up by 1% m-o-m in November, rising to INR 71,500/t ($807/t) exw from INR 70,700/t ($798/t) in October. The price uptick was primarily driven by limited material availability, tightening overall market supply and lending upward support to prices.