India: Imported manganese ore prices climb up w-o-w on tight supply, renewed Chinese demand

• Alloy producers actively restock, expecting steady downstream demand
  
  
• Logistical delays in transporting ore from mines to ports restrict supply
  
  

Indias imported manganese ore prices rose w-o-w on 28 February 2026, supported by stronger inquiries as buyers moved to rebuild inventories. Port-side availability also remained tight due to delays in transportation from mines, which restricted immediate supply. Additionally, renewed buying interest from Chinese importers following the Lunar holiday period further reinforced the upward trend.

• Australian high-grade ore (Mn 46%) rose $0.08/dmtu w-o-w to $5.63/dmtu CNF Haldia/Vizag, hitting an 11-month high last seen on 22 March 2025.

  
  
  

• Gabonese high-grade ore (Mn 44%) increased $0.07/dmtu to $5.26/dmtu, reaching an 11-month high comparable to 15 March 2025 levels.

  
  
  

• South African lumps (Mn 37%) gained $0.07/dmtu to $4.69/dmtu CNF Haldia/Vizag, also touching over an 11-month high last recorded on 15 March 2025.

  
  
  

Factors influencing market

Limited spot availability strengthens sellers' pricing power: Indias imported manganese ore prices moved upward this week, supported by a noticeable rise in buying inquiries as alloy producers and traders actively replenished inventories in anticipation of steady downstream demand. Market sentiment strengthened further due to tight port-side availability, as logistical delays in transporting material from mines to ports restricted immediate supply, thereby tightening spot availability and giving sellers greater pricing leverage. At the same time, the re-entry of Chinese buyers into the seaborne market following the conclusion of Lunar New Year holiday shutdowns added fresh momentum to global demand. Their renewed procurement activity lifted international benchmark offers, which in turn translated into firmer price indications in the Indian import market.

Rising ore costs fail to support alloy prices, demand stays weak: Indian manganese alloys prices declined w-o-w, pressured by lower asking rates and limited trade activity. Silico manganese (60-14) fell by INR 450/t ($5/t) to INR 72,600-73,200/t ($798-804/t) across Durgapur, Raipur, Vizag, and Raigarh, as steel mills maintained need-based procurement amid market uncertainty, keeping demand subdued. Export prices for HC 65-16 silico manganese also softened by $4/t to $916/t FOB Vizag/Haldia.

In contrast, ferro manganese (70%) edged up slightly, rising INR 300/t to INR 74,000/t ($813/t) in Raipur and INR 200/t to INR 73,700/t ($809/t) in Durgapur, supported by cautious buying for immediate requirements. However, export prices for the 75% grade slipped $2/t w-o-w to $907/t FOB Vizag/Haldia. Overall, rising ore costs have yet to translate into alloy price support, reflecting weak demand fundamentals.

Imported manganese ore cargo arrivals rise: Weekly manganese ore cargo arrivals (Mn37%, Mn44%, and Mn46%) to India increased by 55% to 242,313 t over 12-18 February 2026 against 156,738 t in the previous week.

Outlook

Imported manganese ore prices are expected to remain firm in the near term, supported by restocking demand, constrained port availability, and steady inquiries from overseas buyers. However, upside may be limited as alloy producers continue cautious procurement due to weak downstream alloy demand.