- Alloys under pressure as steel market volatility hits spot demand
- UMK, Tshipi hold prices flat for Dec’25; manganese ore market stable
Imported manganese ore prices remained largely stable w-o-w, with a slight softening in the higher grades. Weak demand for high-manganese alloys in overseas markets has prompted smelters to pause procurement of premium ores, influencing the overall price trend. Additionally, the downtrend in domestic manganese alloys has further discouraged smelters from booking fresh orders.
- Australian high-grade ore (46% Mn): Prices decreased slightly by $0.01/dmtu w-o-w to $5/dmtu CNF Haldia/Vizag.
- Gabonese high-grade ore (44% Mn): Prices dipped by $0.01/dmtu w-o-w to $4.66/dmtu CNF Haldia/Vizag.
- South African lumps (37% Mn): Prices remained largely stable w-o-w at $4.25/dmtu CNF Haldia/Vizag.
Market overview
Export slowdown, rising stocks push alloys prices lower: Indian manganese alloys prices declined this week amid weak demand and softer export sentiment. Silico manganese (60-14) prices fell by INR 900/t ($10/t) to INR 70,200-70,800/t ($783-790/t) across Durgapur, Raipur, and Vizag, pressured by weak overseas buying, EU market uncertainty, rising inventories, and volatility in steel prices. Export prices for 65-16 also slipped by $5/t to $922/t FOB Vizag/Haldia.
China’s HBIS Group announced its November bid for silico manganese 65-17 at RMB 5,820/t ($819/t), unchanged m-o-m.
Ferro manganese (HC 70%) prices dropped by INR 600/t ($7/t) to INR 72,100/t ($804/t) in Durgapur, while Raipur prices decreased by INR 1,300/t ($15/t) to INR 72,400/t ($808/t). Weak buying interest and limited acceptance of higher producer offers kept spot demand subdued. HC 75% FeMn export prices also dipped by $15/t to $900/t FOB Vizag/Haldia.
South African miners keep Dec’25 ore offers steady: United Manganese of Kalahari (UMK), a leading global manganese ore producer based in South Africa, has set offers for its 36% grade semi-carbonate lumps at $4.10/dmtu CIF China for December deliveries, unchanged m-o-m. Jupiter Mines Limited, operator of the Tshipi Borwa Manganese Mine in South Africa’s Kalahari manganese field, has announced its Dec25 offer price for high-grade (Mn 36.5%) semi-carbonate lumps at $4.1/dmtu CIF China. The offer price reflects firm mining and logistics costs, reduced South African supply, and steady procurement interest from Chinese alloy producers for high-grade ore.
Imported cargo arrivals rise w-o-w: Weekly manganese ore cargo arrivals (Mn37%, Mn44%, and Mn46%) to India increased by 49% to 160,265t over 5-11 November against 107,400 t in the previous week.
Outlook
Imported manganese ore prices are expected to remain range-bound in the near term as the market continues to face mixed fundamentals. On one hand, weak demand from Indian manganese alloys producers—driven by sluggish export bookings, rising finished alloy inventories, and volatility in steel prices will cap any significant upside.
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