India: Imported manganese ore prices slip w-o-w amid weak alloy demand

• EU safeguard decision deferred, buyers reassess market stance
• Jupiter Mines raises Sep’25 ore offers despite demand weakness

India’s imported manganese ore prices edged down this week across all grades. The decline was largely driven by reduced demand for manganese alloys from both overseas and domestic markets. With weaker consumption, ore buyers adopted a cautious approach, scaling back purchase commitments and pushing prices lower in the domestic market.

• Gabonese high-grade manganese ore (44%) was priced at $4.40/dry metric tonne unit (dmtu), down by $0.03/dmtu due to weak demand for high-grade manganese alloys.
• Australian high-grade manganese ore (46%) prices fell by $0.04/dmtu to $4.70/dmtu, indicating potential softening in demand.
• South African Mn 37% lumps were down slightly by $0.02/dmtu to $4.18/dmtu, suggesting limited upward momentum amid need-based demand.

Market review

Manganese alloys see marginal price dip w-o-w: Indian manganese alloys market witnessed a marginal decline w-o-w. Silico manganese (60-14) prices dropped by INR 500/tonne (t) ($6/t) to INR 70,600-70,660/t ($809/t) in key hubs, while export offers of 65-16 grade eased by $3/t w-o-w to $931/t FOB Vizag/Haldia. Meanwhile, ferro manganese (HC 70%) also weakened slightly by INR 190/t ($2/t) in Durgapur and INR 250/t ($3/t) in Raipur, reflecting subdued steel sector demand and limited spot activity. In contrast, HC 75% ferro manganese prices held steady at $904/t FOB, though muted buying interest pressured imported ore demand, compelling miners to cut prices.

A key importer informed BigMint that market activity remained largely muted due to ongoing discussions on the EU safeguard duty. Concerns arose that, if implemented, the safeguard could result in surplus supply in the market, prompting participants to adopt a cautious buying stance. However, with the safeguard talks now deferred until further notice, market players are expected to reassess their purchasing decisions.

Jupiter Mines raises Sep’25 ore offers despite demand weakness: Jupiter Mines Limited, operator of the Tshipi Borwa manganese mine in South Africa’s Kalahari manganese field, has increased its September 2025 offers for high-grade Mn36.5% semi-carbonate lumps by $0.15/dmtu m-o-m to $4.05/dmtu CIF China.

This price hike comes despite limited demand in both Chinese and global manganese ore markets. Buyers have been cautious in their procurement due to weak alloy demand and uncertainty around ore pricing trends. However, Jupiter’s upward revision reflects higher production and logistics costs in South Africa and tightness in the availability of high-grade semi-carbonate ore in the seaborne market.

Imported cargo arrivals rise w-o-w: Weekly manganese ore cargo arrivals to India increased by 49% (Mn37%, Mn44%, and Mn46%) to 49,981 t over 06-12 August 2025 against 90900 t in the previous week.