India: Imported manganese ore prices exhibit mixed trends w-o-w

• Rising ore prices push small smelters toward maintenance
• Weekly manganese ore cargo volumes drop 29% at Indian ports

Imported manganese ore prices displayed mixed movements with slight fluctuations seen across grades and origins. Despite this, manganese alloy prices experienced a recovery, supported by tightening supply conditions in the domestic market. The rebound in alloy prices reflects cautious optimism among producers, even as ore procurement remains selective due to cost considerations and uncertain global demand dynamics.

• Australian high-grade ore: Australian high-grade (46% Mn) ore dipped by $0.05/dry metric tonne unit (dmtu) to around $4.60/dmtu w-o-w.
• Gabonese high-grade ore: Prices of Gabonese high-grade (44% Mn) ore edged down by $0.05/dmtu w-o-w to $4.30/dmtu, despite rising production and handling costs and ongoing rail maintenance impacting supply.
• South African lumps: South African lumps (37% Mn) saw a slight rise of $0.03/dmtu w-o-w to $4.01/dmtu, the highest in two months due to production cuts in the region.

Market overview

Smelters curb high-grade ore purchases amid cost pressure: Manganese alloy smelters have adopted a cautious procurement approach, particularly for high-grade manganese ore, as they navigate a market marked by mixed sentiment. Rising low grade manganese ore(Mn 37%) prices have intensified production cost pressures, while lower asking rates from overseas suppliers have prompted smaller players to initiate planned maintenance shutdowns for 15-20 days in key regions.

To mitigate financial risks, smelters are refraining from aggressive imports, opting instead for conservative purchasing strategies to maintain operational stability.

Manganese alloys prices rise amid supply constraints: Indian silico manganese (60-14) prices climbed INR 550/t ($6/t) w-o-w to INR 72,000–72,900/t ($842–853/t) in Durgapur, Raipur, and Vizag, marking a four-month high. The increase was fuelled by domestic production cuts and renewed export enquiries from Southeast Asia and the Middle East. Supporting the upward trend, MOIL raised manganese ore prices by 2% for ferro grades (above and below 44% Mn), effective 1 July.

Export prices for the 65-16 grade rose by $5/t to $928/t FOB Vizag/Haldia. Meanwhile, ferro manganese (HC 70%) prices held steady in Durgapur at INR 71,900/t ($841/t), with Raipur seeing a slight uptick to INR 72,200/t ($845/t), amid balanced market activity and cautious trading sentiment.

Weekly cargo arrivals in India drop w-o-w: Manganese ore imports into India decreased by 29% w-o-w, with shipments totalling 112,818 t between 11-17 June compared to last week.