- Inventory-led cost support outweighs softer imported ore prices
- Higher input costs fail to lift Chinese silico manganese prices
Silico manganese export prices remained largely stable w-o-w with a slight upward bias, supported by regular trade activity and firm seller offers. Bulk transactions continued during the week, helping maintain price levels. However, buyers showed limited acceptance of higher offer levels in the export market, restricting any significant price increase.
Meanwhile, the continued decline in imported manganese ore prices had little immediate impact on export offers due to high-cost ore inventories and steady demand. As per BigMint assessment, 65-16 grade prices rose by $2/t w-o-w to $925/t FOB, while 60-14 grade remained stable at around to $831/t FOB Haldia/Vizag.
Confirmed deals (as per BigMint)
According to a leading exporter based in Vizag, Indian silico manganese export prices are expected to remain supported in the near term, backed by a healthy order book from key overseas markets such as Japan, South Korea, and other Southeast Asian countries. Exporters continue to receive bulk inquiries, reflecting sustained buying interest. However, acceptance at elevated offer levels remains limited, with most buyers bidding below $910/t FOB for 65-16 grade silico manganese. Market participants also indicated that a potential surplus supply situation could emerge if production outpaces fresh bookings, which may intensify pricing pressure and limit further upside in export prices
Market Overview
Softening ore prices have limited impact on export offers: Imported manganese ore prices edged lower w-o-w amid muted trading, as most smelters remained well-stocked following bulk bookings during April’s price rally. Fresh buying stayed subdued, with Australian 46% ore slipping to $5.68/dmtu, Gabonese 44% to $5.40/dmtu, and South African 37% lumps to $4.68/dmtu CNF Haldia/Vizag. However, the decline had little impact on Indian silico manganese export prices, as producers continued consuming high-cost inventories, while firm production costs, regular export trade, and steady demand kept offers supported..
Higher input costs fail to lift Chinese silico prices : Chinese silico manganese prices remained broadly stable with a slight downside during the week ended 29 June 2026, reflecting persistent weakness in downstream demand. Silico manganese (Mn 65%, Si 17%) prices eased by RMB 20/t ($3/t) w-o-w to RMB 5,600-5,900/t ($824-868/t) ex-works, while silico manganese (Mn 60%, Si 14%) declined by RMB 10/t ($1/t) to RMB 5,440-5,560/t ($800-818/t) ex-works.
The market continued to operate below production costs as sluggish steel demand and elevated alloy inventories weighed on sentiment. Although higher coking coal prices increased production costs, the impact was largely offset by the gradual resumption of operations at some plants following seasonal maintenance, limiting any meaningful supply tightness. Meanwhile, bearish futures sentiment and cautious procurement by steel mills continued to cap any upward movement in alloy prices.
Outlook
Indian silico manganese export prices are likely to stay firm in the near term on steady export demand and elevated production costs. However, subdued buyer bids and easing raw material prices may restrict further gains.
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