- Rising manganese ore prices keep domestic market firm
- Stronger billet prices in Raipur bolster domestic silico manganese market
Domestic silico manganese prices witnessed a slight uptick in the week ending 10 March 2026, as smelters kept offers firm amid rising imported and domestic manganese ore prices, which have increased the production cost of the alloy. As a result, major plants are not in a position to offer discounts despite cautious export buying. Additionally, rising steel prices have lent some support to domestic silico manganese prices.
As per BigMint’s assessment on 11 March, domestic silico manganese (60-14 grade) prices recorded a slight week-on-week uptick across major markets compared with the previous assessment on 3 March 2026. In Raipur, prices increased by INR 500/t ($5/t) to INR 74,200/t ex-works ($806/t). Durgapur prices also rose by INR 500/t to INR 73,000/t ($793/t), while Vizag prices edged up by INR 200/t to INR 73,200/t exw ($795/t). Meanwhile, Raigarh prices increased by INR 300/t ($3/t) to around INR 73,000/t exw ($793/t), largely supported by higher raw material costs, although overall market sentiment remained cautious.
Confirmed deals as per BigMint
Market Overview
Rising ore costs keep SiMn prices supported despite weak exports: Domestic silico manganese prices remained firm as smelters faced higher production costs due to rising manganese ore prices in both domestic and import markets, leaving little room for discounts. Tight availability of imported ore further supported the upward price trend. Also, few of the deals has concluded at INR 74,500/t exw Raipur for 60-14 has some how set the standard for the time being, but going forward we do not see much high priced booking as export market is majoraly impacted right now which might create surplus supply if it resumes in short span of time.
India’s imported manganese ore prices increased w-o-w amid supply concerns and container shortages linked to geopolitical tensions. Australian high-grade ore (Mn 46%) rose $0.23/dmtu to $5.86/dmtu CNF Haldia/Vizag, Gabonese ore (Mn 44%) gained $0.22/dmtu to $5.48/dmtu, while South African lumps (Mn 37%) increased $0.20/dmtu to $4.89/dmtu.
Additionally, MOIL Limited raised manganese ore prices by 2% for all ferro grades effective 1 March 2026, further increasing cost pressure on smelters.
Billets edge up on better offtake and higher raw material costs: BigMint’s billet index in Raipur increased by INR 600/t w-o-w to settle at INR 41,750/t ex-works on 11 March 2026, supported by improved buying interest and stronger enquiries from neighbouring markets. Market sentiment remained volatile but largely positive, with rising finished steel prices encouraging selective forward bookings. However, some resistance was seen at higher levels due to concerns over price sustainability. On the supply side, higher raw material costs and tight sponge iron availability pushed producers to raise offers, which also supported domestic silico manganese prices.
Outlook
Domestic silico manganese prices may witness slight fluctuations in the near term amid rising manganese ore prices, which continue to keep production costs elevated. However, the recent softening in steel prices may limit further gains, as cautious buying from steelmakers could weigh on demand and keep the market range-bound.
Leave a Reply