India: Imported manganese ore prices fall further due to weak demand
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- Ample alloy supply dampens manganese ore procurement
- Weekly cargo arrivals fall at Indian port
Downside pressure persists in Indias weekly imported manganese ore prices, as inquiries remain weak, tracking the continued decline in manganese alloys prices. Reduced alloy demand and compressed producer margins are limiting fresh ore procurement, with most smelters buying only for immediate needs. This is likely to keep sentiment subdued and exert further pressure on imported ore prices in the near term.
- Australian high-grade ore (Mn 46%)down by $0.14/dmtu w-o-w to $6.31/dmtu CNF Haldia/Vizag.
- Gabonese high-grade ore (Mn 44%)decreased $0.10/dmtu w-o-w to $5.9/dmtu CNF Haldia/Vizag.
- South African lumps (Mn 37%) sightly down by $0.14/dmtu w-o-w to $5.23/dmtu CNF Haldia/Vizag.
Market overview
Smelters adopt hand-to-mouth ore buying amid market uncertainty: Smelters are facing limited demand amid ample availability of manganese alloys in the domestic market, while fluctuating steel prices continue to cap any meaningful recovery in alloy prices. As a result, alloy producers have scaled back manganese ore purchases, opting to buy only for immediate bulk requirements. The combination of oversupply, weak downstream demand, and market uncertainty is keeping ore procurement subdued and weighing on imported manganese ore prices.
Manganese alloy prices tumble further as smelters battle thin margins: Indian manganese alloy prices declined further on a weekly basis, led by a sharp correction in silico manganese prices amid low-priced bulk transactions and subdued steel sector demand. Silico manganese (60-14) prices fell by INR 5,200/t w-o-w to INR 74,600-75,600/t across key markets, while export prices for HC 65-16 grade eased by $7/t to $912/t FOB Vizag/Haldia. Ferro manganese (70%) prices also dropped by around INR 2,000/t in Raipur and Durgapur to INR 77,900/t, with export prices for the 75% grade declining by $10/t to $900/t FOB Vizag/Haldia. Cautious buying, limited bulk inquiries, and expectations of further price corrections continue to weigh on both domestic and export market sentiment.
Imported manganese ore arrivals down w-o-w: Weekly manganese ore cargo arrivals (Mn37%, Mn44%, and Mn46%) to India increased by 15% to 109,450 t over 30 April- 6 May 2026 against 129,507 t in the previous week.
Outlook
Imported manganese ore prices are likely to remain weak in the near term as falling manganese alloy prices, thin smelter margins, and hand-to-mouth buying continue to suppress fresh inquiries.
