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

• 32-34% grade emerges as preferred choice for buyers
• Auction witnesses bidding at base price levels

On 12 August 2025, Sandur Manganese and Iron Ore (SMIORE) conducted an auction for 38,808 t of manganese ore, comprising both fines and lumps with manganese content ranging from 18%-34% and particle sizes between -10 mm and 100 mm.

The auction drew mild participation, resulting in the successful allocation of approximately 14,616 t, around 38% of the total volume on offer. The remaining 24,192 t went unsold.

Bid prices ranged between INR 2,380-INR 8,950/t, depending on grade and size specifications, with no significant movement m-o-m. Among the various grades, material with 32–34% Mn content saw the strongest buyer interest, with around 12 lots booked, indicating continued preference for mid-grade ore.

Key updates

Bids remain static m-o-m: Bids for manganese ore remained unchanged m-o-m in August, with 22-24% lumps quoted at INR 4,280/t ($49/t), consistent with levels seen on 28 July. Bids for grade 32-34% ore also held stable at INR 8,950/t ($102/t), reflecting no change m-o-m. Likewise, bids for Mn 30-32% grade were at INR 7,947/t ($91/t), unchanged against INR 7,947/t ($91/t) seen in the previous auction.

No premiums seen as bids match base prices: The latest auction reflected consistent pricing trends, with bids largely in line with base values. For instance, 28–30% manganese lumps were offered at a base price of INR 7,470/t ($85/t), and the weighted average bid matched this exactly, indicating a stable market outlook.

Comparable stability was observed across other manganese grades, including 18-20%, 20-22%, 22-24%, 24-25%, 26-28%, 30-32%, and 32-34%, where bid prices consistently held firm at their respective base price levels.

Bidding stability reflects cautious buyer behavior amid uncertain market conditions, with participants maintaining prices at base levels despite rising global manganese prices, awaiting clearer demand signals before adjusting their offers.

BigMint’s assessment for silico manganese (60-14) prices in Vizag inched down by 1% m-o-m in August, settling at INR 71,400/t ($820/t) compared to INR 72,400/t recorded in July.