India: Imported manganese ore prices dip w-o-w as smelters defer fresh bookings

• Wait-and-watch sentiment prevails as imported ore inventories remain sufficient
  
  
• Weekly cargo arrivals remain stable at Indian port
  
  

Imported manganese ore prices edged down slightly amid limited trading activity, as the market entered a wait-and-watch phase. Most smelters continued to hold ample inventories after booking bulk cargoes during the sharp price rally in April 2026, reducing the need for fresh purchases. As a result, buying interest remained subdued, exerting mild downward pressure on prices despite firm underlying production requirements.

• Australian high-grade ore (Mn 46%)inched down by $0.06/dmtu w-o-w to $5.68/dmtu CNF Haldia/Vizag.
  
  
• Gabonese high-grade ore (Mn 44%)decreased $0.9/dmtu w-o-w to $5.40/dmtu CNF Haldia/Vizag.
  
  
• South African lumps (Mn 37%)were down by $0.2/dmtu w-o-w to $4.68/dmtu CNF Haldia/Vizag.
  
  

Market overview

Adequate imported ore availability limits fresh booking activity: Imported manganese ore trading remained subdued as most smelters refrained from fresh bookings, supported by comfortable inventory levels. Many producers are currently holding around three months' worth of imported ore stocks, procured through earlier bulk bookings during the April 2026 price rally, ensuring sufficient raw material availability. With inventories remaining adequate, traders have also held back new bookings. A key smelter in Raipur indicated that imported manganese ore is readily available in the market, further reducing the urgency for fresh purchases.

Firm manganese alloy prices fail to lift imported ore demand: Indian manganese alloy prices edged up w-o-w, supported by tight spot availability and higher production costs. Domestic silico manganese (60-14) prices rose by INR 150/t ($2/t), while ferro manganese (70%) gained INR 200-300/t ($2-3/t). Export prices for both alloys also increased marginally by $1/t. However, the modest improvement in alloy prices had little impact on imported manganese ore demand, as most smelters continued to hold around three months' worth of inventories procured during the April 2026 price rally. With sufficient raw material availability, fresh ore bookings remained limited, keeping imported manganese ore prices under mild downward pressure.

Imported manganese ore arrivals remained unchanged w-o-w: Weekly manganese ore cargo arrivals (Mn37%, Mn44%, and Mn46%) to India remained unchanged with slight drop of 1% to 135,010 t over 14 -20 June 2026 against 135,864 t in the previous week.

Outlook

Imported manganese ore prices are likely to remain under mild pressure in the near term amid ample inventories and limited fresh bookings. However, stronger manganese alloy demand and inventory replenishment could lend support to prices.