- Buyers book around 56% of offered quantity
- Selective grades see slight increase in bids
On 20 June 2025, Sandur Manganese and Iron Ore (SMIORE) conducted an auction for a total of 24,192 tonnes (t) of manganese ore, comprising both fines and lumps with (Mn 18-35%), and particle sizes from -10 mm to 100 mm. The auction witnessed moderate participation, resulting in the successful sale of approximately 13,608 t accounting for nearly 56% of the total quantity offered.
The bidding saw prices ranging from INR 2,520/t to INR 10,450/t, depending on grade and size specifications. Despite the partial success, around 10,584 t remained unsold by the close of the auction.
Key updates
Bids edge up against last auction: Bids for 20-22% manganese lumps were at INR 3,286/t ($38/t) in the 20 June auction, reflecting a slight rise of 10% from the previous auction on 5 June which stood at INR 2,980/t ($34/t). Meanwhile bids for 34-35% were at INR 10,450/t ($121/t), inching up by 1% against INR 10,310/t ($119/t) in the auction concluded on 5 June.
However, bids for Mn 30-32% grade were at INR 7,940/t ($92/t) dipping by 1% against INR 8,010/t ($93/t) seen in the previous auction. Another grade of 26-28% was at INR 6,690/t ($77/t), unchanged from the previous auction.
Bids rise against base prices: In the latest auction, bid prices witnessed a modest increase. For instance, the base price for 20-22% manganese lumps was set at INR 2,920/t ($34/t), while the weighted average bid rose to INR 3,286/t ($38/t), indicating a 13% premium over base.
The 34-35% manganese grade exhibited a similar trend, with a base price of INR 10,040/t ($116/t) and bids rising 4% to INR 10,450/t ($121/t).
The slight rise in bids was primarily driven by tightening supply conditions, prompting buyers to offer higher prices to secure manganese ore amid growing demand and limited availability in the market. BigMint’s assessment for silico manganese (60-14) prices in Vizag edged up by approximately INR 400/t ($5/t) in June, settling at INR 71,400/t, compared to INR 71,000/t ($820/t) recorded in May.
However, grades 22-24%, 24-25%, 26-28%, 30-32% and 32-34% demonstrated steadiness in bids over their base prices.
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