- Rising inquiries support prices, key sellers booked till Nov’25
- Imported ore price hikes may further lift silico manganese tags
Indian silico manganese export prices inched up w-o-w, supported by rising inquiries from overseas buyers. A few concluded deals at higher rates, which lent further strength to the market, signalling improving sentiment. The recent uptick in domestic silico manganese prices also contributed to the upward trend in export offers. Additionally, China’s market closure during 1-8 October for the National Day and Mid-Autumn Festival curtailed supply activity from one of the key producing regions, indirectly supporting Indian export prices in the short term.
As per BigMint’s latest assessment, export prices of the 65-16 grade edged up by $12/tonne (t) w-o-w to $916/t FOB. Meanwhile, the 60-14 variant also registered an increase of $3/t w-o-w to $820/t FOB.
Key sellers hike rates amid raw material volatility: Key smelters in Raipur, Durgapur, and Vizag were heard to be booked until mid-November 2025 through auctions and bulk orders, leading to a temporary supply shortage in the domestic market.
Imported manganese ore prices have also shown an upward trend in recent weeks, with slight fluctuations, thereby pushing up production costs for Indian smelters. Domestic silico manganese offers increased by INR 800/t w-o-w to around INR 71,000-71,500/t ($801-806/t) exw in Raipur and Durgapur, supporting export prices and leaving limited bargaining room for buyers.
Additionally, a key smelter informed BigMint that while imported manganese ore prices showed mild fluctuations w-o-w, recent purchases were made at higher levels of around $4.25/dmtu for 37% Mn ore. He also noted that major miners have reduced supply allocations to Indian smelters by 40-50%, raising concerns that silico manganese prices may firm further in the near term.
Global ore price hikes support alloy markets, margins under pressure: Imported manganese ore prices remained largely stable this week, reflecting cautious buying and persistent market volatility. South African ore held steady, while Gabonese Mn 44% and Australian Mn 46% dipped marginally. Alloy prices showed a slight recovery, supported by spot demand and limited supply. Global miners raised November 2025 offers, signaling confidence, but higher costs may pressure Indian producers’ margins.
Outlook
High raw material costs and recent ore price hikes by key global miners for November deliveries may support silico manganese prices in the near term. Export offers are likely to rise, but further gains will depend on overseas demand and buyers’ acceptance of higher rates. Market response will be crucial in determining the short-term price trend.
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