- Buyers book around 19% of offered quantity
- Silico manganese prices in Vizag down INR 900/t w-o-w
On 19 April 2025, Sandur Manganese and Iron Ore (SMIORE) held an auction for 23,688 t of manganese ore (fines and lumps Mn: 20-34%, -10-100 mm). Of the total quantity offered, only 4,536 t (Mn 20-34%) were successfully sold, with prices ranging from INR 2,570-10,950/t. Approximately 19% of the offered quantity was sold, leaving around 19,152 t unsold.
Key updates
Bids remain stable for fines lot: Bids for Mn 26-28% lumps were at INR 7,920/t ($93/t) in the auction on 19 April. Bids for Mn 20-22% fines were at INR 2,570/t ($30/t) in the auction, unchanged from the previous auction. Additionally Mn 28-30%, 32-34% grades were offered in the auction held but the same grades were not offered in the previous auction held on 5 April.
Bids remain firm against base prices: In the recent auction, base prices and bids remained steady. For instance, the base price of Mn26-28% lumps was INR 7,920/t ($93/t), while the weighted average of bids for the same remained unchanged.
Another grade of Mn 28-30% revealed the same pattern, with the base price at INR 9,010/t ($106/t) and the bid price at the same level.
Participation in Sandur’s manganese ore auction remained subdued, as buyers favoured imported material stockpiled at Vizag Port, which offered more attractive options compared to the locally auctioned ore. Also, BigMint’s assessment for silico manganese (60-14) prices in Vizag fell by INR 900/t ($11/t) last week on falling billet prices and lower bids.
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