- Australian, Gabonese ore firm w-o-w on tighter availability
- Domestic players booked till mid-Aug’26; smelters hike prices for next cycle
India medium-carbon silico manganese (Mn 53%, Si 20%, C max 0.5%) prices rose by INR 600/t ($6/t) in the week ended 20 August 2026, supported by higher imported manganese ore costs and tighter spot availability. Supply has further tightened as major producers remain booked through mid-August, strengthening sellers’ pricing power.
Despite firm fundamentals, weak demand from key export markets such as Japan, South Korea, Vietnam, and Indonesia continues to limit gains. While inquiry levels remain healthy, trade conversion has been slow. Supplier offers were reported at INR 88,500-90,000/t ($924-940/t), with around 620 t transacted within the same range. Further upside will depend on stronger overseas demand and improved conversion of inquiries into confirmed deals.
Market Overview
Imported ore prices firm on tighter shipments, revived alloy demand: India’s imported manganese ore market turned a corner this week, with prices firming after a prolonged corrective phase. The uptick was underpinned by a confluence of supply and demand factors: port-side container constraints at key exporting origins tightened shipment availability, while a pickup in enquiries from domestic alloy producers signaled renewed buying interest further down the value chain. With supply-side tightness coinciding with a demand-side revival, imported ore values appear to have bottomed out, and the price recovery reflects a rebalancing of near-term fundamentals rather than a one-off correction.
- Australian high-grade ore (Mn 46%) rose $0.08/dmtu w-o-w to $5.28/dmtu CNF Haldia/Vizag
- Gabonese high-grade ore (Mn 44%) rose $0.10/dmtu w-o-w to $5.00/dmtu CNF Haldia/Vizag
Full order books prompt smelter price hikes, support domestic market: On the domestic front, key manganese alloy players remain booked through mid-August, with a substantial share of bulk orders already secured well in advance. This strong forward order position has given smelters the confidence to raise prices for the next booking cycle and they are offering around 90,000-91,000/t exw Durgapur, as they look to capitalize on the tight order backlog and steady offtake. The resulting price hikes, even if incremental, have lent modest support to the broader domestic market, reinforcing the sense that demand-side fundamentals are gradually strengthening alongside the recovery seen in imported ore prices.
Outlook
MC SiMn outlook remains constructive near term, underpinned by full order books till mid-August and smelters’ calibrated price hikes for the next cycle. Firming imported ore, on tighter shipments and revived alloy demand, reinforces the cost-support narrative.
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