- Smelters defer fresh ore bookings as weaker manganese alloy prices outweigh rising freight risks
- Weekly cargo arrivals rise at Indian port
Imported manganese ore prices remained stable in the week ending 17 October 2026, as global miners maintained offers amid subdued buying interest from Indian smelters. Geopolitical tensions and energy-market uncertainty continue to pose risks to industrial operating costs and freight, while energy shortages in key production regions have constrained downstream activity, limiting smelters’ immediate ore requirements. Meanwhile, the recent decline in manganese alloy prices has squeezed smelters’ purchasing margins and weakened acceptance of high-priced ore, prompting buyers to defer fresh bookings and focus on immediate requirements. Consequently, despite geopolitical cost pressures, subdued demand and weaker alloy prices have limited upward momentum in imported ore prices.
- Australian high-grade manganese ore (Mn 46%) prices remained stable w-o-w at $5.40/dmtu CNF Haldia/Vizag.
- Gabonese high-grade manganese ore (Mn 44%) prices remained largely unchanged w-o-w at $5.02/dmtu CNF Haldia/Vizag.
- South African manganese ore lumps (Mn 37%) prices held steady w-o-w at $4.65/dmtu CNF Haldia/Vizag.
Crude oil above $100/bbl adds freight cost uncertainty, while subdued Indian inquiries keep ore prices stable: The geopolitical backdrop continues to add uncertainty to imported manganese ore landed costs, with risks to shipping through the Strait of Hormuz and Red Sea supporting crude oil and freight rates. Brent crude averaged around $91/bbl in August and $114/bbl in September, an increase of approximately 25% month on month, before settling at $109.86/bbl on 16 October, sources informed. Elevated oil prices could increase ocean freight and insurance costs, adding to importers’ replacement costs. However, this support has yet to translate into stronger manganese ore prices, as subdued Indian smelter inquiries, energy-related production constraints and declining manganese alloy prices continue to limit procurement appetite.
Manganese alloy prices slide as weak steel demand outweighs tight spot availability: Manganese alloy prices declined w-o-w amid subdued downstream demand. SiMn prices fell by INR 1,425/t to INR 83,100–83,400/t exw across key regions, while export offers for 65-16 grade dropped by $21/t to $989/t FOB Vizag/Haldia. FeMn prices decreased by INR 500/t to INR 89,800/t exw Durgapur and by INR 800/t to INR 89,800/t exw Raipur. Weak finished steel demand, persistent energy cost pressures and cautious procurement continued to outweigh support from limited spot availability, keeping buying interest subdued.
Imported manganese ore arrivals in India rise w-o-w: Weekly manganese ore cargo arrivals (Mn37%, Mn44%, and Mn46%) to India increased by 242% to 103,740 t over 04 – 10 October 2026 against 30,300 t in the previous week.
Outlook
Imported manganese ore prices are expected to remain stable with limited downside in the near term, as global miners maintain offers despite weak buying interest from Indian smelters. Falling SiMn and FeMn prices are likely to discourage fresh ore bookings, while energy-related production curbs and higher freight cost risks may limit sellers’ willingness to reduce offers. Buying activity is expected to remain need-based, with a sustained price recovery dependent on improved alloy demand and stronger smelter procurement.
Leave a Reply