India: Imported manganese ore prices show mixed trends w-o-w as alloy prices drop further

• Smelters chase high-grade ore amid inventory crunch; lower grade under pressure
  
  
• Weekly cargo arrivals inches up at Indian port
  
  

Imported manganese ore prices witnessed a mixed trend in the week ending 18 April 2026, supported by a recovery in manganese alloy prices. Demand for higher-grade ore improved, leading to a slight uptick amid increased inquiries. In contrast, ample availability and sufficient inventories of lower-grade material exerted mild downward pressure on prices. Overall, market sentiment remained cautiously optimistic, with buying interest skewed toward better-grade ore

• Australian high-grade ore (Mn 46%) up by $0.08/dmtu w-o-w to $6.50/dmtu CNF Haldia/Vizag.
  
  
• Gabonese high-grade ore (Mn 44%) increased $0.10/dmtu w-o-w to $6.10/dmtu CNF Haldia/Vizag.
  
  
• South African lumps (Mn 37%) inched down by $0.08/dmtu w-o-w to $5.52/dmtu CNF Haldia/Vizag.
  
  

Market Overview

Inventory drawdown fuels high-grade Mn ore demand; Mn 37% under pressure: High-grade imported manganese ore remained a key focus for Indian smelters during the week, driven by a noticeable drawdown in inventories. Declining stock levels heightened concerns over timely availability, prompting active restocking to support stable silico manganese production. Inconsistent domestic ore quality and supply further increased reliance on superior imported grades.

Meanwhile, firm global prices, geopolitical tensions, and logistical disruptions shaped cautious buying behaviour, encouraging forward procurement despite elevated costs. With nearly 60% import dependence, smelters stayed active in the seaborne market to avoid supply disruptions.

In contrast, adequate availability of Mn 37% grade led to subdued inquiries, with prices witnessing a slight dip during the period.

Manganese alloys slide w-o-w on weak demand, subdued exports: Indian manganese alloy prices trended downward during the week amid cautious buying and limited export activity. Silico manganese (60-14) prices declined by INR 1,800/t ($19/t) w-o-w to INR 82,80084,000/t ($891905/t) across key markets, pressured by rising domestic supply and weak overseas demand. Limited export bookings led producers to divert volumes to the domestic market, increasing availability and intensifying competition.

Meanwhile, HC 65-16 silico manganese export prices fell by $18/t to $967/t FOB Vizag/Haldia. Ferro manganese (70%) prices also dropped, down by INR 2,000/t ($22/t) to INR 84,800/t ($913/t) in Raipur and by INR 1,800/t ($19/t) to INR 84,700/t ($912/t) in Durgapur, as buyers resisted higher offers. Export prices for 75% grade declined sharply by $24/t w-o-w to $982/t FOB Vizag/Haldia amid weak inquiry levels.

Imported manganese ore arrivals down w-o-w: Weekly manganese ore cargo arrivals (Mn37%, Mn44%, and Mn46%) to India decreased by 30% to 151,500 t over 02-08 April 2026 against 217,164 t in the previous week.

Outlook

Imported manganese ore prices are expected to remain firm in the near term, supported by tight high-grade availability, declining inventories, and steady restocking by Indian smelters. However, subdued alloy demand may cap sharp gains. Overall, prices are likely to stay range-bound with a slight firm bias.