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India: Domestic silico manganese prices inch up after MOIL ore price hike

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Silico Manganese

BigMint Bureau

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4 Feb 2026, 19:46 IST

India: Domestic silico manganese prices inch up after MOIL ore price hike

South32, Comilog raise march mn ore prices amid supply disruptions

Steel prices rises INR 600/t w-o-w on stronger buying

Indian domestic silico manganese prices moved up on a weekly basis as market participants increasingly accepted higher-priced material. Several bulk deals were concluded at the upper end of the price range, lending strong support to prices. In addition, major producers held back bulk volumes through auctions and earlier bookings, tightening spot availability. This supply constraint, along with steady demand, pushed prices higher. Further support came from key miners raising prices for March 2026 deliveries and improving steel demand.

As per BigMint's assessment on 4 January 2026, domestic silico manganese (60-14 grade) prices increased by an average of INR 1,000/t ($11/t) w-o-w across major markets, reflecting uptrend sentiment. In Raipur, prices rose by INR 1,100/t ($12/t) to INR 74,000/t exw ($818/t). Durgapur prices climbed by INR 800/t($5/t) to INR 73,100/t($809/t), while Vizag rates increased by INR 1,100/t ($12/t) to INR 73,200/t exw ($810/t). In Raigarh, prices gained INR 800/t ($9/t) to around INR 72,900/t exw ($806/t), indicating broad-based strength across regions.

Confirmed deals (as per BigMint)

Market overview

Tight spot availability keeps domestic prices firm: Domestic smelters remained firm on prices as spot market availability was limited due to bulk volumes being tied up in auctions and earlier bookings, which were prioritised first. A few bulk deals concluded around INR 73,80074,000/t set a benchmark for the domestic market, pushing prices on the upside and keeping sentiment strong.

MOIL Raises manganese 0re prices by 5% for February 2026: State-owned miner MOIL has revised its manganese ore prices effective 1 February 2026. Prices for all ferro grades, both above and below 44% Mn, have been increased by 5%, while SMGR grades Mn30%, Mn25%, and Mn20% remain unchanged from January 2026 levels.

Global manganese ore prices rise as key miners announce March hikes: Overseas key miners raised monthly prices for March 2026. South32 increased offers for South African Mn37% ore to $4.5/dmtu, up $0.1/dmtu, supported by tighter global supply due to South African disruptions and steady steel demand. Meanwhile, Eramet Comilog set March shipment prices at $4.98/dmtu for Mn44.5% lumps and $4.78/dmtu for Mn43% chips, both up $0.08/dmtu m-o-m.

Steel prices edge up as market sentiment improves: BigMints billet index rose by INR 600/t w-o-w to INR 41,250/t exw-Raipur on 4 February, driven by a visible improvement in buying activity across the semi-finished steel segment. Market sentiment turned positive as stronger downstream demand and supportive raw material cues encouraged buyers to re-enter the market. Trading activity improved significantly, with bookings reported at varied price levels. Participants cited favourable macroeconomic signals and recent price corrections as key factors boosting procurement and restoring confidence across the steel value chain.

Outlook

Domestic silico manganese prices are expected to remain firm in the near term, supported by tight spot availability and bulk volumes locked in auctions and earlier bookings. Sustained acceptance of higher prices and limited fresh supply may keep the market biased upward, though further gains will depend on demand continuity and raw material cost trends.