India: Imported manganese ore prices hold steady despite muted alloy demand

• Steel market fails to provide upward push
• Weekly imported ore cargo arrivals increases

Imported manganese ore prices in India remained largely stable this week, despite limited trading activity and subdued demand from the alloy sector. South African grades recorded a slight decline due to weak buying interest from domestic smelters and a dip in inquiries from Chinese buyers. Soft sentiment in China also weighed on prices of South African-origin ore. Overall, tepid demand across major consuming regions kept imported ore prices steady for most origins, reflecting a largely balanced market with no significant upward momentum.

• Australian high-grade ore (46% Mn): Prices were stable w-o-w at $4.76/dmtu CNF Haldia/Vizag.
• Gabonese high-grade ore (44% Mn): Tags held steady at $4.45/dmtu CNF Haldia/Vizag.
• South African lumps (37% Mn): Prices dipped by $0.02/dmtu to $4.22/dmtu CNF Haldia/Vizag.

Market updates

Manganese alloy prices steady despite weak steel sector demand: Indian manganese alloys prices remained stable w-o-w. Silico manganese (60-14) prices remained largely steady, with a slight rise of INR 200/t ($2/t) w-o-w to INR 71,300-71,600/t ($812-815/t) in Durgapur, Raipur, and Vizag. Prices were steady as regular trades continued, steel demand remained weak, and no significant new market inquiries emerged. Meanwhile, export prices of the 65-16 grade rose by $2/t w-o-w to $933/t FOB Vizag/Haldia, India.

Ferro manganese (HC 70%) prices rose slightly by INR 200/t ($2/t) w-o-w to INR 71,500/t ($814/t) exw-Durgapur. Prices rose due to limited supply amid stable market conditions and steady demand. Additionally, HC 75% ferro manganese prices edged up by $1/t w-o-w to $913/t FOB Vizag/Haldia.

Manganese alloy prices in India remained firm this week, with trade activity largely balanced amid moderate demand from domestic buyers. Despite steady inquiries from a few secondary steel producers, the overall market lacked strong momentum as the steel sector continued to show limited consumption. Producers maintained stable offers, supported by steady production costs and range-bound manganese ore prices. However, the absence of any substantial demand recovery from steel mills kept market sentiment subdued, resulting in a largely stagnant price trend across major producing hubs.

Imported cargo arrivals fall w-o-w: Weekly manganese ore cargo arrivals (Mn37%, Mn44%, and Mn46%) to India increased by 180% to 308,348 t over 08-14 October against 110,278 t in the previous week.