- Geopolitical tensions cap silico manganese price gains
- Need-based domestic buying likely to keep prices steady
India’s domestic silico manganese prices edged up w-o-w, supported by rising imported manganese ore costs. Key smelters remain booked until mid-March, which has helped maintain a balanced supply-demand scenario. Higher production costs amid limited imported ore availability lifted domestic silico manganese prices despite fluctuations in domestic steel prices.
As per BigMint’ assessment, domestic silico manganese (60-14 grade) prices increased by an average of INR 500/t ($6/t) w-o-w across major markets, reflecting firm sentiment. In Raipur, prices rose by INR 500/t to INR 71,600/t exw ($794/t). Durgapur prices climbed by INR 300/t($3/t) to INR 71,400/t($792/t), while Vizag rates increased by INR 600/t ($7/t) to INR 71,300/t exw ($791/t). In Raigarh, prices gained INR 400/t ($5/t) to around INR 70,800/t exw ($785/t), indicating broad-based strength across regions.
Confirmed deals (as per BigMint)
Market overview
Higher costs support prices, though trade thins: Smelters continued to keep prices firm, as rising manganese ore costs exerted upward pressure on domestic offers. However, buyer acceptance at higher levels remained limited, prompting smelters to offer selective discounts to conclude deals. According to a leading smelter, silico manganese prices could have reached around INR 73,000/t exw in Raipur and other regions; however, escalating geopolitical tensions have disrupted material shipments, creating market uncertainty and panic. As a result, producers were open to adjusting offers, as buyers were unwilling to transact material at elevated prices.
Rising manganese ore prices contrast with stable export rates: Indian silico manganese export prices remained largely stable w-o-w amid muted port activity, limited bulk inquiries, and the absence of high-priced deals. As per BigMint’s assessment on 13 January 2026, 65-16 grade prices edged up marginally to $910/t FOB, while 60-14 grade prices were unchanged at $811/t FOB.
Market sentiment stayed steady, with only a gradual rise in inquiries from Southeast Asia and parts of the Middle East, allowing sellers to maintain existing offers. Despite successive hikes in global manganese ore prices by major miners, Indian silico manganese export prices showed limited reaction and remained largely unchanged. Eramet Comilog set Mn44.5% lumps at $4.90/dmtu CIF China and Mn43% chips at $4.70/dmtu, both up $0.20/dmtu m-o-m. Jupiter Mines increased Mn36.5% semi-carbonate lumps to $4.32/dmtu, while South32 lifted Mn37% material to $4.40/dmtu.
Outlook
Domestic prices are likely to remain at around these levels amid need-based buying from steel mills. Fresh bulk export inquiries at ports could provide near-term upward support to prices.
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