India: Imported manganese ore eases as smelters stay cautious, miners trim June prices

• Weak alloy sales, ample stocks keep manganese ore trade subdued
  
  
• Weekly cargo arrival increases at Indian port
  
  

Imported manganese ore prices edged lower this week, pressured by cautious, need-based buying from alloy producers as smelter inquiries weakened. The downturn was further supported by price cuts announced by key miners for June 2026 deliveries, reflecting subdued demand sentiment.

• Australian high-grade ore (Mn 46%) down by $0.06/dmtu w-o-w to $6.5/dmtu CNF Haldia/Vizag.
  
  
• Gabonese high-grade ore (Mn 44%) decreased $0.04/dmtu w-o-w to $6.1/dmtu CNF Haldia/Vizag.
  
  
• South African lumps (Mn 37%) decreased $0.15/dmtu w-o-w to $5.37/dmtu CNF Haldia/Vizag.
  
  

Smelters curb manganese ore buying as falling alloy prices, weak trade dampen sentiment: Smelters reduced manganese ore procurement this week amid subdued trade activity in both domestic and overseas alloy markets, as weak alloy demand, sluggish export bookings, and continued declines in alloy prices kept buyers cautious toward high-priced ore. With alloy prices remaining under downward pressure, smelters avoided aggressive purchases and largely restricted buying to immediate requirements. Limited sales visibility, sufficient raw material inventories, and softer downstream sentiment further discouraged bulk procurement, while restrained trade activity across key markets continued to weigh on overall manganese ore demand and market momentum.

South32 slashes June ore offers as weak China sentiment weighs on Mn market: South32 reduced its Jun26 manganese ore offers for South African Mn37% material by $0.4/dmtu to $5/dmtu, reflecting mounting pressure from weaker Chinese demand, oversupply in the market, and subdued buying interest amid elevated import costs. The price cut highlights softening market fundamentals as cautious procurement and high landed costs continue to weigh on spot demand sentiment.

Manganese alloy prices tumble w-o-w amid weak demand, sluggish exports: Indian manganese alloy prices declined further this week, with silico manganese and ferro manganese markets extending losses amid weak demand fundamentals. Domestic SiMn 60-14 prices dropped by INR 2,275/t ($24/t) w-o-w to INR 78,200-78,600/t ($824-828/t) across key markets, pressured by sluggish steel demand, subdued exports, and surplus domestic availability as reduced overseas bookings redirected material into local hubs. SiMn export prices for HC 65-16 also softened by $14/t to $923/t FOB Vizag/Haldia.

Meanwhile, ferro manganese prices remained under pressure, with 70% grade prices falling by INR 1,300/t ($14/t) in Raipur and INR 1,100/t ($12/t) in Durgapur to INR 81,700/t ($861/t), driven by weak buying interest, ample supply, and limited trader participation. Export prices for 75% grade FeMn also declined by $20/t w-o-w to $925/t FOB Vizag/Haldia, reflecting continued bearish sentiment in both domestic and overseas markets.

Imported manganese ore arrivals up w-o-w: Weekly manganese ore cargo arrivals (Mn37%, Mn44%, and Mn46%) to India increased by 79% to 215,886 t over 16-22 April 2026 against 120,940 t in the previous week.

Outlook

Imported manganese ore prices may stay slightly weak amid cautious smelter buying, soft alloy demand, and lower miner offers, though supply constraints could cap sharper declines.