India: Silico manganese export market softens as buyers await further correction

• Logistical bottlenecks and cautious procurement dampen export activity
• Bearish manganese ore sentiment expected to keep export prices under pressure

Indian silico manganese export prices remained under pressure amid subdued trading activity, as overseas buyers adopted a cautious approach following the reduction in August 2026 manganese ore offer prices by major miners, anticipating further softness in alloy prices. Aggressive offers from traders in key overseas markets intensified competitive pressure, limiting the pricing power of Indian exporters. In addition, persistent shipment delays and logistical constraints affected delivery schedules, while elevated freight costs continued to weigh on export competitiveness, keeping overall market sentiment weak.

As per BigMint assessment, 65-16 grade prices inched down by $6/t w-o-w to $915/t FOB, while 60-14 grade fell by $10/t to $821/t FOB Haldia/Vizag.

Market overview

Buyers defer bookings as shipment delays and correction expectations persist: Export buying remained subdued as overseas buyers deferred fresh bookings in anticipation of further corrections in silico manganese prices following softer manganese ore offers from major miners. At the same time, persistent container shortages and delayed vessel allocations disrupted shipment schedules, increasing uncertainty over delivery timelines. Limited container availability, congestion at key ports, and longer transit times also pushed up logistics costs, reducing the competitiveness of Indian exporters. As a result, many buyers preferred to postpone purchases until both prices and freight conditions became more stable, leading to lower trading activity in the export market.

Eramet trims August ore offers amid subdued manganese market: Eramet Comilog reduced its August 2026 manganese ore offer prices, lowering Mn 44.5% ore to $5.10/dmtu and Mn 43% ore to $4.90/dmtu, both down by $0.08/dmtu m-o-m. The price reduction reflects softer market sentiment and weaker buying interest, as subdued manganese alloy demand has prompted buyers to remain cautious with fresh bookings.

Outlook

Indian silico manganese export prices are expected to remain under pressure in the near term as overseas buyers continue to adopt a wait-and-watch approach amid expectations of further corrections in manganese ore and alloy prices. Reduced ore offer prices by major miners, subdued steel demand in key export destinations, and aggressive offers from competing suppliers are likely to limit Indian exporters’ pricing power. However, firm domestic production costs, supported by higher power tariffs and limited willingness among exporters to offer deeper discounts, are expected to prevent any sharp decline in export prices.