- Higher input costs limit sellers’ ability to offer large discounts
- Inquiries from Europe expected to pick up in coming weeks
Indian silico manganese prices edged down w-o-w on 3 February, pressured by weak overseas demand and lower bids. Limited inquiries from key importing regions such as MENA and Europe further dampened market sentiment. Meanwhile, rising imported manganese ore prices continued to increase producers’ cost of production, squeezing margins and limiting the drop in silico manganese prices.
BigMint’s assessment on 2 February 2026 reveals silico manganese export prices declined slightly w-o-w across grades. The 65-16 variant stood at $913/t FOB, down by $9/t w-o-w from $922/t FOB on 27 January, while the 60-14 grade was assessed at $820/t FOB, down $4/t w-o-w.
Confirmed deals (
as per BigMint)
Market overview
Weak overseas buying pressures export prices: Despite the rise in raw material prices, silico manganese export offers faced pressure, as overseas buyers continued to seek lower prices. However, higher input costs restricted sellers’ ability to offer significant discounts, resulting in marginal downward adjustments in export prices. According to market participants, export prices were largely stable with slight corrections in some deals.
Imported manganese ore prices rise on steady Chinese demand: Imported manganese ore prices rose across grades in the week ended 31 January, supported by steady bulk inquiries from China, which tightened global availability. Chinese buyers increased procurement to rebuild inventories after earlier need-based purchases, lending support to raw material prices.
BigMint’s assessments (w-o-w) placed Australian Mn 46% up $0.03/dmtu at $5.56/dmtu CNF Haldia/Vizag, a 10-month high. Gabonese Mn 44% was up $0.03/dmtu to $5.20/dmtu CNF Haldia/Vizag. South African Mn 37% lumps increased by $0.07/dmtu to $4.54/dmtu CNF Haldia/Vizag.
Outlook
Export prices are expected to remain at around current levels next week, with the broader trend biased upward. Participants are awaiting clearer demand signals, particularly from the European market, where inquiries are expected to pick up in the coming weeks, as bulk deals from the region have remained absent since end-December. However, soft overseas demand may limit price gains in the short run. Rising manganese ore prices will likely continue to support the uptrend, though market acceptance at higher levels remains limited.
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