India: Sandur’s manganese ore auction sees over 40% sold despite soft demand

• Buying interest concentrated on Mn 26-28%, Mn 30-32% grades
• Weighted average bids inch down compared to previous auction

Sandur Manganese and Iron Ore Limited (SMIORE) conducted a manganese ore auction on 16 April 2026, offering 18,648 tonnes (t), comprising both fines and lumps across grades ranging from Mn 26% to 35% and sizes between -10 mm and 100 mm.

The auction saw steady participation despite soft demand, with approximately 7,560 t (around 41%) successfully transacted, while 11,088 t remained unsold. Demand was particularly robust for Mn 26-28% and Mn 30-32% grade material, with five lots in each of these categories attracting confirmed bids.

Bids show stability with minor corrections

Bidding activity in the 16 April auction reflected w-o-w stability, with only marginal corrections compared to the 10 April session. The weighted average bid for Mn 26-28% grade lumps eased slightly by INR 3/t to INR 8,530/t ($92/t), compared to INR 8,533/t ($92/t) in the previous auction. Similarly, the weighted average bid for the Mn 28-30% grade declined by INR 90/t ($1/t) to INR 10,051/t ($108/t) on 16 April from INR 10,141/t ($109/t) recorded on 10 April.

Meanwhile, higher grades, including Mn 30-32%, 32-34%, and 34-35%, were introduced in this auction and were not part of the volume offered in the previous auction.

The slight decline in bids could be attributed to softer demand, driven by material oversupply and increasingly cautious procurement strategies among buyers.

Meanwhile, on 16 April, BigMint assessed silico manganese (60-14) prices in Vizag at INR 82,800/t ($889/t) exw, down by INR 2,400/t ($26/t) compared to INR 85,200/t ($915/t) on 10 April.