- Smelter bookings, expensive ore underpin price uptick
- Domestic outlook steady-to-firm amid cost pressure
Domestic silico manganese prices witnessed a slight uptick, as assessed on 18 March. The increase was supported by higher-priced deals being accepted in the market, while sellers remained firm in negotiations, offering limited margins on material. Additionally, some smelters are already booked until mid-April 2026, tightening spot availability in the domestic market and further supporting prices.
As per BigMint’s assessment on 18 March, domestic silico manganese (60-14 grade) prices recorded a slight week-on-week uptick across major markets compared with the previous assessment on 11 March 2026. In Raipur, prices increased by INR 300/t ($3/t) to INR 74,500/t ex-works ($803/t). Durgapur prices also rose by INR 500/t ($5/t) to INR 73,500/t ($792/t), while Vizag prices edged up by INR 400/t to INR 73,600/t ex-works ($793/t). Meanwhile, Raigarh prices increased by INR 200/t ($3/t) to around INR 73,200/t ex-works ($787/t), largely supported by higher raw material costs, although overall market sentiment remained cautious.
Confirmed deals (as per BigMint)
Market overview
Strong seller control lifts domestic prices: Sellers were offering material at around INR 75,000/t exw Raipur, with a few deals concluded at and above INR 74,300/t exw. The upward pressure on prices was primarily driven by rising manganese ore costs and tight global availability of imported ore, which has supported domestic sentiment.
Additionally, key producers in Raipur and Durgapur are largely booked until mid-April, while some are offering April delivery material. This has constrained spot availability, giving sellers greater control over the market and lending further support to prevailing prices.
One of the key smelters from Durgapur informed BigMint that current offers for imported ore stand at around $4.75/dmtu CNF India for Mn 37% South African origin and $5.6/dmtu CNF India for Mn 44% Gabonese material for April bookings. Miners have been consistently quoting higher prices, while supply has been impacted by shipment delays amid ongoing geopolitical tensions. Additionally, ocean freight rates have nearly doubled compared to earlier levels, significantly increasing the landed cost of imported ore. This sharp rise in input costs is likely to reflect in manganese alloy prices.
Firm SEA inquiries support export prices: India’s silico manganese export prices edged up w-o-w on 16 March, supported by improved inquiries from Southeast Asia and a few higher-priced deals. Tight availability and stable ore prices supported the trend, though weak demand from MENA and GCC may cap further gains.
As per BigMint, 65-16 grade rose by $4/t to $920/t FOB, while 60-14 grade increased by $2/t to $822/t FOB. On the raw material side, South African Mn 37% ore prices increased slightly, while Australian and Gabonese high-grade ore prices edged down marginally, reflecting mixed market trends.
Outlook
Domestic silico manganese prices are likely to remain firm supported by high ore costs, tight imported supply, and elevated freight rates, which will keep seller sentiment strong. Limited spot availability, with smelters booked until mid-April, will sustain supply tightness, though cautious steel demand may cap further upside.
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