- Imports of different ore grades reach 0.52 mnt in April
- Higher crude steel, manganese alloys production drive shipments
- Pre-monsoon bulk bookings to keep import market active in May
Morning Brief: India’s manganese ore import volumes rose by 16% y-o-y to 0.52 million tonnes (mnt) in April 2025 compared with 0.45 mnt in April 2024, as per provisional data maintained with BigMint. However, ore imports fell by over 10% m-o-m from March due to the fiscal yearend surge in steel production in March.
Notably, mid-grade manganese ore (Mn35%-46%) imports constituted almost the entire share of imports, with data showing that inbound shipments of high-grade ore, Mn46% and above, were zero in April compared with 90,000 t in March.
Imports of mid-grade ore surged in April to 0.51 mnt, while Mn25%-35% grade ore purchases from overseas were minimal.
India’s imports of manganese ore edged up by 21% y-o-y to 6.64 mnt in FY’25 against 5.47 mnt in FY’24.
Country-wise imports
South Africa was the leading exporter of manganese ore to India, with volumes reaching over 0.4 mnt in April. Gabon and Côte d’Ivoire were the other exporting countries.
South Africa led the list of manganese ore importers in FY’25, with shipments recorded at over 4 mnt, followed by Gabon at around 2 mnt.
Why imports edged up y-o-y in Apr’25?
Higher crude steel production: As per World Steel Association data, India’s crude steel production recorded an increase of nearly 6% y-o-y to reach 12.9 mnt in April. This was the key reason behind higher manganese ore consumption in steelmaking and also higher imports.
Imports dropped m-o-m from March due to the fact that crude steel production in the final month of the fiscal had spiked sharply to 13.8 mnt in March, up 7% y-o-y.
Domestic smelters stock up fearing price rise: Domestic users of imported ore fast-tracked purchases from overseas apprehending an overall increase in global manganese ore prices. Mining major South 32 hiked South African semi-carbonated manganese ore lump, Mn37% grade, ore prices by $0.6/dmtu m-o-m for March shipments, currently priced at $4.65/dmtu CIF China.
The shift in focus towards the Chinese market further tightened supplies for Indian smelters. This accelerated momentum in imports was reflected in April shipment data.
Tight global supplies fuel price hike: Decreased international manganese ore shipments from the key producing countries created a supply crunch in the global market stoking fears of a price rise, and higher purchases by domestic alloy smelters to neutralise the impact of a potential hike.
While South Africa reduced exports due to a weak price environment, weather and logistical disruptions in Gabon led to a shortage of high-grade ore globally. Major miners such as South 32 reported declines in output, while Eramet witnessed production suspension late last year, impacting shipments.
Manganese alloys production, exports rise: Domestic manganese alloys production increased by 15% y-o-y to 0.45 mnt in April as against 0.39 mnt in April 2024. Moreover, exports of manganese alloys from India increased slightly by 6% y-o-y to 0.17 mnt in April. These factors favoured higher ore imports in April.
Outlook
Globally, supplies are expected to recover going forward on the resumption of production and supplies from South 32’s GEMCO mine, which could temper prices to an extent and improve demand-supply fundamentals.
Interest in manganese ore imports is expected to remain relatively firm in the near term due to pre-monsoon bulk bookings. However, ample inventories at ports in south India combined with production halts by key players and reduced smelter output in major production hubs in the country may lead to a decline in imported ore consumption.
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