- SMIORE output jumps 24% y-o-y, boosting domestic Mn ore availability
- Weekly manganese ore cargo arrivals down at the Indian port
Imported manganese ore prices remained under pressure amid subdued buying interest from Indian smelters. Improved availability of domestically sourced manganese ore has reduced the immediate requirement for imported material, prompting buyers to adopt a cautious procurement approach and defer fresh purchases.
Meanwhile, volatility in ocean freight rates has added uncertainty to landed costs, further discouraging buyers from committing to forward cargoes. With domestic ore availability improving and silico manganese margins remaining constrained, Indian smelters are likely to continue with a hand-to-mouth procurement strategy. This combination of weak demand, cautious buying and limited urgency for replenishment is expected to keep imported manganese ore prices under pressure in the near term.
- Australian high-grade ore (Mn 46%) inched down by $0.04/dmtu w-o-w to $5.20/dmtu CNF Haldia/Vizag.
- Gabonese high-grade ore (Mn 44%) decreased $0.10/dmtu w-o-w to $4.9/dmtu CNF Haldia/Vizag.
- South African lumps (Mn 37%) were down by $0.15/dmtu w-o-w to $4.28/dmtu CNF Haldia/Vizag.
Market Overview
Manganese alloy prices inch down amid cautious buying: Indian manganese alloy prices remained largely stable w-o-w, with SiMn 60-14 declining marginally by INR 375/t ($4/t) to INR 73,300-73,900/t across key markets. Despite MOIL’s August ore price cuts, ample spot availability and cautious steel mill buying limited any upside, keeping domestic prices range-bound. Export markets remained weaker, with SiMn 65-16 falling $4/t to $887/t FOB Vizag/Haldia and FeMn 75% declining $11/t to $902/t. Competitive overseas offers and subdued demand continued to pressure export realizations, while domestic prices found support from balanced supply-demand conditions.
Imported manganese ore arrivals in India down w-o-w: Weekly manganese ore cargo arrivals (Mn37%, Mn44%, and Mn46%) to India decreased by 69% to 63682t over 26 July- 01 August 2026 against 205,782 t in the previous week.
Key miners report higher Mn ore output, strengthening domestic supply: Domestic manganese ore production increased in Q1 FY’27, supported by higher output from key miners. State-owned producer MOIL Ltd reported largely stable production at 0.508 mnt in Q1 FY’27, up marginally by around 1% y-o-y from 0.502 mnt in Q1 FY’26. The steady output reflects consistent mining operations and sustained demand from domestic consuming industries.
Meanwhile, Sandur Manganese and Iron Ores Ltd (SMIORE) recorded a stronger production performance, with manganese ore output rising 24% y-o-y to 0.150 mnt in Q1 FY’27 from 0.121 mnt a year earlier. Ore sales also nearly doubled to 0.097 mnt from 0.049 mnt, indicating improved dispatches and higher availability of material in the domestic market. Despite the sequential moderation, the combined production trend from major domestic miners points to improved ore availability, which could reduce Indian smelters’ dependence on imported manganese ore and limit near-term import demand.
Outlook
Imported manganese ore prices are expected to remain under pressure, with $0.05-0.10/dmtu downside risk in the near term. Improved domestic ore availability and cautious Indian smelter buying are limiting import demand, while freight volatility is discouraging forward purchases. Comfortable availability and weak buying interest are likely to keep the market soft.
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