India: Imported high-grade manganese ore prices ease slightly due to weak alloys prices

• Cautious mill attitude weighs on manganese alloys prices 
• Weekly cargo arrivals to Indian ports edge down

Imported manganese ore prices for high-grade material (Mn 44% and 46%) inched down, while Mn 37% prices remained stable. The marginal decline in high-grade ore prices was largely due to cautious buying sentiment in the overseas manganese alloys market, which exerted mild pressure on demand. Consequently, high-grade imported manganese ore prices recorded a slight weekly correction. However, key miners have kept their prices slightly higher to stable for January 2026 deliveries, lending support to the overall market sentiment.

• Australian high-grade ore (Mn 46%): Prices edged down by around $0.02/dmtu w-o-w to about $5.22/dmtu CNF Haldia/Vizag.
• Gabonese high-grade ore (Mn 44%): Prices declined by approximately $0.02/dmtu w-o-w to around $4.88/dmtu CNF Haldia/Vizag.
• South African lumps (Mn 37%): Prices remained stable w-o-w at $4.29/dmtu CNF Haldia/Vizag, supported by steady demand for standard seaborne grades.

Market overview

Alloys prices edge lower w-o-w on cautious buying: Indian manganese alloys prices showed a slightly weaker trend w-o-w due to cautious buying. Silico manganese (60-14) prices edged down by around INR 230/t ($3/t) to INR 69,300–69,400/t ($768–769/t) across key markets as mills remained cautious despite a mild recovery in steel demand, though firm producer offers limited the downside. Prices fell to a two-month low, last seen in the mid of September. Meanwhile, HC 65-16 silico manganese export prices rose by $3/t w-o-w to $903/t FOB Vizag/Haldia, largely driven by currency fluctuations.

HC ferro manganese (70%) prices declined on ample supply and weak demand, falling to INR 70,900/t ($786/t) in Durgapur and INR 71,600/t ($793/t) in Raipur, touching a two-month low last observed in mid-October. In contrast, HC 75% ferro manganese prices edged up by $1/t to $891/t FOB Vizag/Haldia.

Imported cargo arrivals fall w-o-w: Weekly manganese ore cargo arrivals (Mn37%, Mn44%, and Mn46%) to India decreased by 35% to 172,779 t over 3-9 December against 267,797 t in the previous week.

Outlook
Prices may see a slight downside in the near term due to a downtrend in manganese alloys demand during the upcoming holiday period. However, United Manganese of Kalahari (UMK), a leading South African producer, has set offers for its 36% grade semi-carbonate lump ore at $4.15/dmtu CIF China for January deliveries, up marginally by $0.05/dmtu, providing some support to the market.