- Tight domestic supply, sustained demand support offers
- Softer imported manganese ore prices limit steeper hikes
India’s medium-carbon silico manganese (Mn 53%, Si 20%, C max 0.5%) prices edged up by INR 200/t ($5/t) w-o-w to INR 89,800/t ($948/t) in the assessment week ended 10 September 2026, supported by limited domestic availability and firm production costs. Supplier offers increased to INR 88,600-90,600/t ($935-956/t), with around 200 t reportedly transacted at INR 89,500/t, indicating continued buying interest despite cautious market activity.
Elevated coke costs continue supporting domestic alloy prices
High coke prices continued to underpin silico manganese production costs during the week, limiting the scope for suppliers to reduce offers despite relatively subdued spot buying. The increase in coke and other input costs has also filtered through to India’s broader steel chain, with domestic steel prices recently moving higher as mills pass on elevated raw material expenses. For medium-carbon silico manganese producers, firm conversion costs therefore provided a floor to domestic offers and helped prices edge higher.
Softer imported ore offers provide limited cost relief
Imported high-grade manganese ore prices have seen some easing, offering producers marginal relief on the raw-material side. However, the decline has not been sufficient to offset the impact of increased coke and other production costs, while domestic ore availability remains relatively constrained. As a result, suppliers have retained firm offers rather than fully passing on the softer ore sentiment to buyers. The combination of lower ore costs and higher conversion expenses kept producer margins under pressure and prices largely stable.
Outlook
Medium carbon silico manganese prices are expected to remain firm, with elevated coke costs and tight availability providing support, while softer imported ore prices may limit further upside.
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