India: Imported manganese ore prices decline w-o-w amid tepid demand

• Weak alloy demand hits imported ore bids
• Imported ore arrivals increase 52% w-o-w

India’s imported manganese ore prices edged down w-o-w, driven by a decrease in domestic and overseas demand for manganese alloys across grades. This weak demand prompted buyers to adopt a more cautious approach, resulting in reduced purchase commitments and, subsequently, softer ore prices.

Price assessments

• Gabonese high-grade ore (44%) was at $4.69/dry metric tonne unit (dmtu), down by $0.22/dmtu, due to weak demand for high-grade manganese alloys.
• Australian high-grade ore (46%) prices fell by $0.23/dmtu to $5.02/dmtu, indicating potential softening in demand.
• South African Mn 37% lumps fell by $0.13/dmtu to $3.94/dmtu.

Market updates

Demand softens for imported ore: Imported manganese ore prices declined w-o-w due to reduced inquiries and lower purchase volumes, driven by a sluggish export market for Indian manganese alloys. Overall, the market witnessed cautious sentiments amid a lack of buying interest, which hindered deal closures.

Manganese alloy prices decline w-o-w: Indian silico manganese prices decreased by INR 700/t ($8/t) w-o-w to INR 70,500-70,900/t ($826-831/t) in key regions such as Durgapur, Raipur, and Vizag. This decline is attributed to a drop in domestic steel prices.

Similarly, ferro manganese (HC 70%) prices fell significantly by INR 1,050/t ($12/t) to INR 73,700/t ($863/t) exw in Durgapur and by INR 800/t ($9/t) to INR 74,000/t ($867/t) exw in Raipur.

These price drops followed a persistent decline in inquiries and cautious moves from market participants.

Steel market sees bearish sentiments: The domestic steel billet index also inched down w-o-w by INR 200/t ($4/t) to INR 40,400/t ($464/t) exw-Raipur on 25 April 2025. This further reinforced the cautious buying behaviour.

Imported cargo arrivals increase 52% w-o-w: Manganese ore cargo arrivals to India increased by 52% (for Mn37%, Mn44%, and Mn46%), with weekly shipments totalling 180,452 t over 9-16 April 2025, against 49,750 t in the previous week.