India: Manganese ore import prices remain stable w-o-w

• Manganese alloys market cools as buyers step back
• Weekly cargo arrivals increase by 114%

Imported manganese ore prices in India remained largely stable week-on-week (w-o-w), reflecting a rangebound trend. However, price movements varied across ore grades and alloy types.

• Australian high-grade ore: Australian high-grade (46% Mn) ore dipped by $0.06/dry metric tonne unit (dmtu) w-o-w to around $4.67/dmtu.
• Gabonese high-grade ore: Prices of Gabonese high-grade (44% Mn) ore edged down by $0.06/dmtu w-o-w to $4.36/dmtu, despite rising production and handling costs and ongoing rail maintenance impacting supply.
• South African lumps: South African lumps (37% Mn) saw a slight rose of $0.02/dmtu w-o-w to $3.93/dmtu amid limited inquiries from smelters.

Market overview

Manganese alloy prices decline w-o-w: Manganese alloy prices in India declined w-o-w due to subdued demand from domestic steel mills and limited overseas interest from regions like Europe, Turkiye, UAE, and Japan. Infrastructure-related constraints further dampened market activity.

• Silico manganese prices dropped by INR 300/t ($4/t) to INR 71,200–71,900/t ($830–838/t) in key hubs like Durgapur, Raipur, and Vizag. The decline reflects weak demand from the steel sector and cautious buyer sentiment.
• Ferro manganese (HC 70%) prices fell by INR 400/t ($5/t) to INR 72,100/t ($840/t). In Raipur, prices declined by INR 550/t ($6/t) to INR 72,250/t ($842/t), as buyers resisted higher offers amid sufficient inventories and weak sentiment.

Sandur Manganese and Iron Ore (SMIORE) auctioned 25,704 t of manganese ore (Mn 18–35%). Only 8,568 t (33%) was sold at prices ranging from INR 2,520/t to INR 10,310/t, leaving 17,136 t unsold—highlighting tepid market interest.

MOIL reduced manganese ore prices effective 1 June 2025, slashing ferro grades (above and below Mn 44%) by 5%, and SMGR grades (Mn 30%, Mn 25%) by 5–15%.

Steelmakers to limit alloy purchases: Indian steelmakers are facing a tough market environment, grappling with shrinking profit margins and weak sales of finished steel products. In response, they have adopted a cautious procurement approach, purchasing only limited quantities of manganese alloys. This restrained buying behaviour has also impacted demand for imported manganese ore, putting downward pressure on prices. The ripple effect highlights the interconnectedness of the steel and alloy supply chains amid ongoing market uncertainty.

Imported ore arrivals to India up w-o-w: Imported manganese ore arrivals to India rose by 114% w-o-w, with shipments totalling 115,134 t over 21-27 May compared to 53,950 t in the previous week.