- Production cuts spark silico manganese rally
- Imported manganese ore arrivals surge w-o-w
Imported manganese ore prices into India reflected a mixed trend week-on-week (w-o-w), influenced by uncertain market conditions. While silico manganese prices saw limited upward movement, ferro manganese prices experienced a slight decline. The alloy market remains cautious amid subdued momentum despite fluctuating ore demand.
- Australian high-grade ore (46% Mn): Prices were down slightly by $0.01/dry metric tonne unit (dmtu) at $4.67/dmtu.
- Gabonese high-grade ore (44% Mn): Prices inched down by $0.01/dmtu to $4.36/dmtu.
- South African lumps (37% Mn): Prices saw a slight rise of $0.2/dmtu to $3.98/dmtu.
Market overview
Silico manganese prices rise, ferro manganese decline: Indian silico manganese (60-14) prices rose by INR 600/t ($7/t) w-o-w, reaching INR 71,300–72,100/t ($823–833/t) in Durgapur, Raipur, and Vizag. The uptick was driven by strategic production cuts by key smelters to manage supply surplus. Export prices for the 65-16 grade also increased slightly by $4/t to $921/t FOB Vizag/Haldia.
SMIORE’s manganese ore auction on 20 June saw strong participation, with 56% of the material sold and bids slightly higher than the previous auction held on 5 June.
Conversely, ferro manganese (HC 70%) prices declined by INR 700/t ($8/t) to INR 71,600/t ($827/t) exw-Durgapur, and INR 71,900/t ($830/t) exw-Raipur, due to weakening export demand amid a sluggish global steel market. HC 75% grade also saw a drop of $12/t to $903/t FOB Vizag/Haldia.
Weekly cargo arrivals in India rise 107% w-o-w: Manganese ore imports into India increased by 107% w-o-w, with shipments totalling 167,269 t between 4-10 June compared to last week.
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