India: Silico manganese export prices remain rangebound in recent deals

• Smelter maintenance, order backlogs limit supply
• Low asking rates keep smelters on edge in export market

India’s silico manganese export prices remained range-bound w-o-w, with sellers holding firm on robust prices. Despite inquiries at discounted rates and mixed signals from imported manganese ore prices, sellers maintained their stance, reflecting cautious optimism in a market.

“Bids from overseas countries have remained subdued, hence not much trade. On the other hand, pending deliveries of previous orders have held back Indian suppliers from lowering offers”, a trader said.

BigMint’s assessment on 23 June 2025 showed export prices of 65-16 grade at $921/tonne (t) FOB, up $1/t w-o-w. Meanwhile, the 60-14 variant fell slightly by $2/t w-o-w to $840/t FOB.

Market review

Tight supply keeps export prices supported: Sellers are maintaining higher export offers for silico manganese amid restricted market supply. Smelters have begun 15–20 days of planned maintenance during the monsoon, while others remain engaged in fulfilling previous orders through mid-July 2025. These factors have helped stabilize prices and prevented further declines.

Imported manganese ore prices uneven as demand wavers: Imported manganese ore prices into India reflected a mixed trend week-on-week (w-o-w), influenced by uncertain market conditions. While silico manganese prices saw limited upward movement, ferro manganese prices experienced a slight decline. The alloy market remains cautious amid subdued momentum despite fluctuating ore demand.

• Australian high-grade ore (46% Mn): Prices were down slightly by $0.01/dry metric tonne unit (dmtu) at $4.67/dmtu.
• Gabonese high-grade ore (44% Mn): Prices inched down by $0.01/dmtu to $4.36/dmtu.
• South African lumps (37% Mn): Prices saw a slight rise of $0.2/dmtu to $3.98/dmtu.

Outlook

Silico manganese export prices are expected to remain volatile in the near term due to uncertain market demand. Persistent low asking rates have made it challenging for smelters to sustain strong pricing, adding pressure to an already cautious market environment.