- Around 61% of the offered material was sold
- Buying interest was largely focused on Mn 28-30% grade material
On 5 March 2026, Sandur Manganese and Iron Ore Limited (SMIORE) conducted an auction offering 15,624 t of manganese ore (fines and lumps) across 26-35% Mn grades and -10 mm to 100 mm sizes.
The auction saw steady participation, with around 9,576 t (about 61%) sold, while 6,048 t remained unsold. Buying interest was mainly concentrated in Mn 28-30% grade ore, with eight lots receiving confirmed bids.
Auction bidding patterns were mostly stable w-o-w
In the auction held on 5 March, bidding patterns showed steady momentum compared with the 25 February event. The weighted average bid for Mn 22-24% grade lumps remained largely stable at INR 4,823/t ($52/t), compared with INR 4,830/t ($52/t) previously in the auction held on 25 February.
Similarly, bids for Mn 26-28% and Mn 28-30% grades stayed mostly unchanged, reflecting consistent demand across these segments. No lots were offered for Mn 34-35% grades in this auction.
However, BigMint’s assessment showed silico manganese (60-14) prices in Vizag edging up by INR 200/t ($2/t) w-o-w to INR 73,100/t ($792/t) on 5 March, compared with INR 72,900/t ($790/t) on 26 February.
Leave a Reply