India: Imported manganese ore prices continue rally w-o-w on global cues

• Higher May offers from global miners fuel price hike
  
  
• Logistics disruptions continue to keep supply tight
  
  

India imported manganese ore prices continued to rally in the week ended 11 April 2026 despite mixed trends in manganese alloys prices. The hike in ore prices was supported by higher offer prices from key miners for May 2026 shipments amid increased buying inquiries and restocking activity following earlier inventory depletion.

The uptrend was further driven by constrained supply from major exporters such as South Africa, Australia, and Gabon due to mine disruptions and limited spot cargo availability. Additionally, lower inventories at ports and trader stockyards tightened near-term availability, lending further support to imported ore prices.

• Australian high-grade ore (Mn 46%) rose by $0.18/dmtu w-o-w to $6.42/dmtu CNF Haldia/Vizag.
  
  
• Gabonese high-grade ore (Mn 44%) increased $0.17/dmtu w-o-w to $6.0/dmtu CNF Haldia/Vizag.
  
  
• South African lumps (Mn 37%)climbed up by $0.14/dmtu w-o-w to $5.6/dmtu CNF Haldia/Vizag.
  
  

Market overview

Logistics issues, rising miner quotations lift prices: Imported manganese ore prices continued to strengthen, driven by cost-push and supply-side factors. A sharp rise in ocean freight rates -- nearly doubling in recent weeks -- along with volatility in the INR against the USD has significantly increased landed costs for Indian buyers, intensifying import cost pressure.

Market participants also reported persistent port congestion, vessel delays, and logistical bottlenecks, which have disrupted cargo movement and constrained near-term material availability in the domestic market. Further supporting the uptrend, leading global miners have revised their offer prices upward for May 2026 shipments, reflecting firmer international sentiment and stronger procurement interest from buyers.

To illustrate, Eramet Comilog, a leading manganese ore exporter from Gabon, has set its May shipment prices at $5.75/dmtu CIF China for Mn44.5% lumps, and $5.55/dmtu for Mn43% chips, both up by $0.5/dmtu m-o-m.

The combination of elevated freight expenses, currency fluctuations, logistical disruptions, and higher miner quotations has collectively fuelled the recent rally in imported manganese ore prices, despite cautious sentiment in the downstream alloys segment.

Silico manganese eases after rally; ferro manganese extends gains w-o-w: Indian manganese alloys prices witnessed mixed trends w-o-w following the sharp movements seen in previous sessions. Silico manganese (60-14) prices corrected downward after the recent surge, declining by INR 525/t w-o-w to INR 84,600-85,900/t across key domestic markets. The correction was mainly due to ample inventory availability and rising buyer resistance to elevated offer levels, prompting sellers to lower quotations to stimulate transactions.

Meanwhile, HC 65-16 silico manganese export prices remained largely stable, inching up by $6/t w-o-w to $985/t FOB Vizag/Haldia, supported by routine trade activity. However, export sentiment stayed subdued amid sluggish inquiry levels. The near-term outlook remains cautious, as increasing inventories and sustained production may trigger pressure selling and weigh on domestic prices.

In the ferro manganese segment, 70% grade prices rose by INR 800/t w-o-w to INR 86,800/t in Raipur, while Durgapur prices increased by INR 500/t to INR 86,500/t. The gains were supported by stronger raw material costs, firm export demand, and positive seller sentiment, which restricted lower-priced deals. Export prices for 75% grade also climbed sharply by $38/t w-o-w to $1,006/t FOB Vizag/Haldia. Nevertheless, export sentiment remained weak due to limited fresh inquiries, and the recent rally may face downward pressure if booking activity does not improve.

Imported manganese ore arrivals up w-o-w: Weekly manganese ore cargo arrivals (Mn37%, Mn44%, and Mn46%) to India inched up by 3% to 217,164 t over 26 March-01 April 2026 against 210,090 t in the previous week.

Outlook

Imported manganese ore prices are likely to stay firm next week, supported by high freight costs, stronger miner offers, and supply-side logistics disruptions. However, gains may remain capped by weak alloy demand and buyer resistance, while improved supply and easing freight could pressure prices ahead.