- 30-32% grade draws higher buying interest
- Auction sees bids aligned with base prices
On 28 July 2025, Sandur Manganese and Iron Ore (SMIORE) conducted an auction for a total of 30,744 t of manganese ore, comprising both fines and lumps with manganese content of 20-34% and particle sizes between -10 mm and 100 mm.
The auction received a healthy response, culminating in the successful sale of approximately 14,112 t, representing nearly 46% of the total quantity offered. Approximately 16,632 t remained unsold at the conclusion of the auction.
The bidding saw prices of INR 4,280-8,950/t, depending on grade and size specifications, remaining stable m-o-m. Additionally, 30-32% Mn content witnessed the highest buyer preference, with approximately 10 lots booked.
Key updates
Bids remain steady m-o-m: Bids for manganese ore remained unchanged m-o-m in July, with 26-28% lumps quoted at INR 6,690/t ($77/t), consistent with levels seen on 20 June. Bids for higher grade 32-34% ore also held steady at INR 8,950/t ($103/t), reflecting no change m-o-m. Likewise, bids for Mn 30-32% grade were at INR 7,947/t ($92/t), mostly stable against INR 7,940/t ($92/t) seen in the previous auction.
Bids remain at base prices: The latest auction demonstrated stable pricing trends, with bids closely mirroring base rates. For instance, the base price of 28-30% manganese lumps was set at INR 7,470/t ($86/t), while the weighted average bid was nearly identical at INR 7,475/t ($86/t).
Similar stability was noted across other manganese grades of 22-24%, 26-28%, 30-32%, and 32-34%, where bid prices remained at par with their respective base prices.
The stable bids were primarily driven by steady demand, balanced supply, unchanged market conditions, and consistent buyer-seller expectations.
BigMint’s assessment for silico manganese (60-14) prices in Vizag inched up by 2% m-o-m in July, settling at INR 72,500/t ($820/t) compared to INR 71,400/t recorded in June.
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