India: Imported premium-grade manganese ore prices witness marginal gains w-o-w

• Manganese alloys prices waver
• Global manganese ore prices rise for Nov

Imported manganese ore prices in India showed a mixed trend this week, reflecting cautious restocking by alloy producers amid an improving steel demand outlook. While higher-grade cargoes recorded marginal gains, prices of lower and medium-grade ores remained largely stable as buyers avoided aggressive bookings.

Industry participants attribute the divergence to selective procurement: smelters are prioritizing quality ores that support alloy yields, but remain hesitant to absorb higher costs across all segments. The manganese alloys market, however, is showing early signs of recovery, lending some support to import appetite.

• Australian high-grade ore: Prices of Australian high-grade (46% Mn) ore rose slightly by $0.05/dry metric tonne unit (dmtu) to around $4.77/dmtu w-o-w.
• Gabonese high-grade ore: Prices of Gabonese high-grade (44% Mn) inched up by $0.05/dmtu w-o-w to $4.46/dmtu.
• South African lumps: Prices of South African lumps (37% Mn) dipped by $0.01/dmtu w-o-w to $4.19/dmtu.

Market recap

Manganese alloys mixed w-o-w; silico gains on supply tightness: Indian manganese alloys market showed a mixed trend w-o-w amid supply constraints and limited demand. Silico manganese (60-14) prices rose by INR 500/t ($7/t) to INR 69,400–69,800/t ($783–787/t) in Durgapur, Raipur, and Vizag, supported by tightening supply conditions and transportation challenges from monsoon disruptions, which created a supply-demand gap. However, weak demand kept the market from witnessing sharp gains.

In the export market, silico manganese (65-16) prices declined by $6/t w-o-w to $904/t FOB Vizag/Haldia, while HC 75% ferro manganese slipped by $1/t to $885/t FOB Vizag/Haldia. Domestically, ferro manganese (HC 70%) prices also edged down by INR 200/t ($2/t) to INR 70,200/t ($792/t) exw-Durgapur and INR 70,300/t ($793/t) exw-Raipur as subdued demand continued to weigh on sentiment despite steady supply.

South32, Eramet raise manganese ore prices: Global manganese ore miners have raised November 2025 offers across grades, citing tighter supply and stronger alloy demand in China and India. South32 lifted South African 37% ore to $4.15/dmtu and Australian 42% ore to $4.55/dmtu, both up $0.05/dmtu m-o-m. Eramet Comilog set Gabonese Mn44.5% at $4.35/dmtu and Mn43% at $4.15/dmtu, each rising $0.08/dmtu. While firmer offers signal confidence in downstream recovery, Indian alloy producers face rising cost pressures that may squeeze margins, with volatility hinging on freight and currency trends.

Imported cargo arrivals to India fall: Weekly manganese ore cargo arrivals to India decreased by 75% (Mn37%, Mn44%, and Mn46%) to 28,650 t over 10 -16 September against 114,999 t in the previous week.