- Imported manganese ore prices in India dip w-o-w
- Limited inquiries from overseas
The Indian silico manganese export market maintained a steady tone last week, supported by steady inquiries. Despite muted trade activity, sellers held offers firm, with limited bookings in 65-16 and no confirmed deals for 60-14.
BigMint assessed 65-16 silico manganese export prices at $920/t FOB on 3 June 2025, edged down by $10/t w-o-w. Meanwhile, the 60-14 grade remained range-bound $842/t FOB, w-o-w.
Market overview
Steadiness in global demand: Global demand for silico manganese remained largely unchanged over past few weeks. Key steel-producing regions such as the EU, Southeast Asia, and the Middle East did not report any major surge in production or raw material procurement. Since silico manganese is primarily used in steelmaking, flat steel output translated into stable buying patterns. The absence of bulk orders or significant spot demand helped keep prices in check.
Balanced supply and inventory levels: Indian producers have maintained a balanced supply position, aligning output with prevailing demand. Exporters have not faced pressure from excessive inventories, and no major stockpiling has been reported at key ports. This equilibrium has allowed suppliers to avoid discounting, while also supporting minor price increases where justified by firm inquiries.
Imported manganese ore edges down w-o-w: Prices of imported manganese ore (Mn 37-46%) inched down w-o-w across all grades. Mn44% from Gabon stood at $4.42/dry metric tonne unit (dmtu), down by $0.07/dmtu w-o-w, Mn37% from South Africa was assessed at $3.91/dmtu, down by $0.11/dmtu w-o-w, and Mn46% from Australia was at $4.73/dmtu CIF India, down by $0.07/dmtu.
Stable input costs and exchange rates: Input costs, particularly manganese ore and coke, remained soft during the week. The cost of production, therefore, stayed consistent, providing a strong floor to the pricing. In addition, the Indian Rupee traded within a narrow range against the U.S. Dollar, ensuring that export pricing remained unaffected by currency volatility. Stable freight rates further supported predictable landed costs for buyers.
Outlook
Silico manganese prices are anticipated to remain stable in the near term, underpinned by consistent regional demand, smooth supply-demand alignment, expected logistical challenges during India’s monsoon season, and limited changes in production schedules.
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