India: Imported manganese ore prices remain flat w-o-w

• Mn alloy prices reflect mixed trends
• Weekly cargo arrivals inch up w-o-w

Imported manganese ore prices in India were largely stable w-o-w, with minor increases in lower-grade South African material, while 44% and 46% grades remained unchanged. Meanwhile, manganese alloy prices continued to rise this week, driven by ongoing supply constraints in the domestic market.

• Australian high-grade ore: Australian high-grade (46% Mn) ore remained stable at around $4.60/dry metric tonne unit (dmtu) w-o-w.
• Gabonese high-grade ore: Prices of Gabonese high-grade (44% Mn) remained firm w-o-w at $4.30/dmtu.
• South African lumps: South African lumps (37% Mn) saw a slight rise of $0.02/dmtu w-o-w to $4.03/dmtu.

Market overview

Jupiter lifts offers, Eramet reduces them: The imported manganese ore market witnessed mixed moves. Jupiter Mines Limited raised its August 2025 offer for Mn36.5% semi-carbonate lumps to $3.9/dmtu CIF China, up $0.05/dmtu from July. This uptick pushed manganese ore prices at Indian ports higher by $0.15/dmtu, especially for lower-grade variants. This supported strong domestic manganese alloy prices.

In contrast, Eramet Comilog reduced its August offers for higher-grade manganese ore by $0.05/dmtu m-o-m – Mn44.5% to  $4.2/dmtu and Mn43% to $4.0/dmtu. The price cut reflects high port inventories and cautious buying by alloy producers, signalling a strategic move to stay competitive amid oversupply.

Indian alloy prices show mixed trends across grades: Indian silico manganese (60-14) prices surged by INR 600/t ($7/t) w-o-w, reaching a 4-month high of INR 72,600-73,500/t ($846-856/t) in key hubs like Durgapur, Raipur, and Vizag. The rally was driven by tight supply and a steady recovery in steel demand, fuelling bullish market sentiment. Export prices of the 65-16 grade also rose by $3/t w-o-w to $931/t FOB Vizag/Haldia.

Meanwhile, ferro manganese (HC 70%) prices remained unchanged w-o-w at INR 71,900-72,200/t ($837-841/t) exw in Durgapur and Raipur, reflecting market caution. Meanwhile, HC 75% ferro manganese prices dipped by $5/t to $918/t FOB Vizag/Haldia, indicating selective pressure in export markets.

Weekly cargo arrivals in India up w-o-w: Manganese ore imports into India increased by 8% w-o-w, with shipments totalling 171,891t between 18-24 June compared to last week.