- Export market weakness spills into domestic trade, intensifying pressure on smelters
- Weekly cargo arrivals fall at Indian port
Imported manganese ore prices have shown a slight correction, as manganese alloy prices have continued to decline since the last week of April. Weakness in the downstream alloy market has reduced smelters’ purchasing appetite, prompting miners globally to lower offer prices for June shipments. The recent price cuts reflect growing pressure across the manganese value chain, with subdued alloy demand, falling alloy prices, and cautious buying leading to softer sentiment in the imported ore market.
- Australian high-grade ore (Mn 46%) down by $0.05/dmtu w-o-w to $6.45/dmtu CNF Haldia/Vizag.
- Gabonese high-grade ore (Mn 44%) decreased $0.10/dmtu w-o-w to $6/dmtu CNF Haldia/Vizag.
- South African lumps (Mn 37%) remained stable w-o-w to $5.37/dmtu CNF Haldia/Vizag.
Market overview
Steel mills stay cautious; lower bids deepen pressure on Mn alloy producers: The domestic manganese alloy market remains under significant pressure as steel mills have reduced consumption and are bidding at lower levels following MOIL’s May 2026 ore price cut and Eramet’s reduction in June shipment prices. These developments have strengthened buyer expectations of further declines, leading to cautious procurement and lower bid levels.
Smelters in Raipur told BigMint that weak exports have diverted material to the domestic market, worsening oversupply and eroding margins. Producers are selling at little to no profit while receiving higher-cost ore deliveries, raising the risk of production cuts or temporary shutdowns among smaller players.
Eramet and MOIL cut ore prices for June and May deliveries, reinforcing bearish sentiment: Eramet’s subsidiary Comilog, a leading manganese ore exporter from Gabon, has reduced its June 2026 shipment prices by $0.30/dmtu m-o-m, setting Mn 44.5% lumps at $5.45/dmtu CIF China and Mn 43% chips at $5.25/dmtu. In India, MOIL Limited lowered manganese ore prices effective 1 May 2026, with ferro grades above and below 44% Mn reduced by 4%. Prices across the SMGR segment, including Mn 30%, Mn 25%, fines, and chemical grades, were also cut by 4%. These reductions reflect mounting pressure across the downstream manganese alloy market and have further strengthened expectations of softer raw material prices
Manganese alloy prices extend decline amid weak demand: Indian manganese alloy prices continued to decline w-o-w amid weak downstream demand, subdued trade activity, and cautious need-based buying. SiMn (60-14) prices fell by INR 1,950/t to INR 75,800-76,800/t, while HC 65-16 export prices eased to $919/t FOB. FeMn (70%) prices dropped by INR 1,700-1,800/t across key markets, with 75% export prices declining to $910/t FOB Vizag/Haldia.
Imported manganese ore arrivals down w-o-w: Weekly manganese ore cargo arrivals (Mn37%, Mn44%, and Mn46%) to India increased by 45% to 129,507 t over 23-29 April 2026 against 215,886 t in the previous week.
Outlook
Imported manganese ore prices are likely to remain soft in the near term as weak alloy prices, poor smelter margins, and cautious need-based buying continue to weigh on demand. Recent price cuts by Eramet and MOIL Limited have further reinforced bearish sentiment.
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