India: Medium-carbon silico manganese prices weaken amid falling manganese ore costs
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- Weak ore prices drag alloy market lower
- Cautious buying continues across domestic markets
Indian medium-carbon silico manganese (Mn 53%, Si 20%, C max 0.5%) prices fell by INR 1,200/t ($13/t) w-o-w to INR 91,500/t ($967/t) exw-Durgapur on 7 May. The downturn was primarily driven by weakening high-grade manganese ore prices and a cautious market environment, as buyers adopted a wait-and-watch approach amid subdued demand sentiment and expectations of further price correction. Offers were at INR 89,900-92,000/t ($950-972/t), with 320 t sold at INR 91,500/t ($967/t).
Imported high-grade manganese ore prices ease: Imported manganese ore prices weakened this week amid cautious, need-based buying from alloy producers and subdued smelter inquiries. Market sentiment was further pressured by price reductions announced by major miners South 32 and Eramet for June 2026 shipments, reflecting softer downstream demand expectations. Australian high-grade ore (Mn 46%) declined to $6.5/dmtu CNF Haldia/Vizag, Gabonese ore (Mn 44%) fell to $6.1/dmtu.
Outlook
Medium-carbon silico manganese prices are expected to remain under pressure amid weak downstream demand, softer ore prices, and cautious procurement, though limited spot availability may restrict sharper declines.
