- Export prices soften as buyers resist high landed costs
- High-grade manganese ore rises, limits fall in overall prices
Silico manganese export prices have shown a slowdown amid limited overseas trade activity. Buyers have restricted bulk purchases due to elevated price levels, anticipating a further downside in the near term. This cautious sentiment has led to subdued demand, weighing on export price momentum.
As per BigMint’s assessment on 20 April, Indian silico manganese export prices decreased w-o-w across key grades. The 65-16 grade was assessed at $966/t FOB, down by $5/t from $971/t on 13 April. Meanwhile, the 60-14 grade fell by $5/t w-o-w to $916/t FOB.
Market participants shared mixed signals on export activity. One key exporter informed BigMint that while inquiries persist, only select markets such as Japan and other Far East nations continue to show consistent buying interest, albeit in limited volumes. A marginal easing in prices could potentially revive overseas demand and improve buying sentiment.
Meanwhile, a leading smelter from Durgapur highlighted cost-side pressures, noting that elevated ore prices against relatively lower asking rates are creating a sense of uncertainty in the market. If ore prices continue to rise, producers may be compelled to increase their offer prices to sustain margins.
Market overview
Prices under pressure as overseas buyers limit bulk procurement: Overseas buying interest has remained subdued, largely constrained by a combination of elevated sea freight rates and high offer prices from suppliers. The increase in logistics costs has significantly raised the landed cost for importers, making bulk procurement less viable in the current scenario. As a result, buyers are adopting a cautious, need-based procurement strategy rather than committing to large-volume bookings.
Additionally, downstream steel demand in key overseas markets has been relatively weak, limiting the consumption appetite for silico manganese. This has further reduced the urgency among buyers to secure material at prevailing price levels. The mismatch between supplier expectations and buyer affordability has widened, leading to slower trade activity.
Mixed trend in imported ore; better-grade demand cushions prices: Imported manganese ore prices witnessed a mixed trend in the week ending 18 April 2026, supported by a recovery in alloy prices. Demand for high-grade ore improved, pushing Australian (Mn 46%) to $6.50/dmtu and Gabonese (Mn 44%) to $6.10/dmtu CNF Haldia/Vizag, while South African lumps (Mn 37%) eased to $5.52/dmtu amid ample supply. Strength in higher grades helped prevent a sharper overall price decline, keeping sentiment cautiously optimistic.
Outlook
Export prices are likely to remain range-bound with a weak bias in the near term, pressured by subdued overseas demand and high freight costs. However, firm ore prices and tight supply may limit any sharp downside.
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