- Several producers booked through Oct’26, some have commitments till Dec’26
- Elevated landed costs of imported manganese ore, weak rupee lift production costs
India’s silico manganese export prices moved higher in the week ended 8 September 2026, supported by improving inquiries and a few bulk deals concluded at elevated levels. However, other buyers showed selective interest in buying at these levels.
Silico manganese export prices rose by an average of $23/t w-o-w in the week ended 8 September 2026, reaching a two-month high. Prices of the 60-14 grade increased by $16/t to $817/t FOB Vizag/Haldia, while the 65-16 grade surged by $30/t to $886/t FOB Vizag/Haldia.
The supply side has emerged as a key support factor, with several major producers already booked through October 2026 and some having commitments extending into December 2026. This has significantly reduced the availability of prompt export cargoes, strengthening sellers’ negotiating positions and allowing them to maintain firmer offers despite limited spot buying.
On the cost front, sellers continue to face margin pressure. A key market participant informed BigMint that elevated manganese ore landed costs, coupled with the sharp depreciation of the Indian rupee against the US dollar, have increased the effective production cost. With higher raw-material costs and limited room to absorb currency-driven cost increases, producers are increasingly reluctant to reduce offers aggressively, providing further underlying support to export prices.
Market overview
Export prices firm as producers remain booked through Dec’26: Limited availability of prompt material has provided strong support to silico manganese export prices, with key sellers largely sold out through October 2026 and some having commitments extending into December 2026. The limited spot availability has strengthened sellers’ negotiating positions, particularly as overseas buyers continue to seek Indian material.
Meanwhile, a few bulk export deals have been concluded at around $920-925/t, establishing a higher benchmark for the export market and providing sellers with greater confidence to maintain firmer offers. The combination of committed production, scarce prompt cargoes and higher concluded deal levels is keeping the market tilted in favour of sellers, although buyer acceptance at elevated levels remains a key factor for further price movement.
Firm domestic silico manganese prices support export offers: Firm domestic silico manganese prices are providing an additional floor to export offers, with prices currently hovering around INR 85,000-86,000/t exw ($899-910/t) for the 65-16 grade in key exporting regions amid strengthening steel prices. The improvement in steel realisations has supported downstream alloy demand and enhanced producers’ price expectations, reducing the incentive to chase export volumes at lower levels.
The firmer domestic market is therefore narrowing the gap between export and domestic realisations, allowing producers to remain selective on overseas bids. Combined with tight availability of prompt export material and elevated raw-material and currency costs, the strength in domestic silico manganese prices is reinforcing sellers’ bargaining power and supporting the upward bias in export offers.
Outlook
Silico manganese export prices are expected to remain range-bound with an upward bias in the near term, supported by limited prompt availability, strong producer order books, and higher bulk deal benchmarks. However, elevated offers may face resistance from overseas buyers, limiting the scope for a sharp upside.
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