India: Sandur manganese auction exhibits active market engagement

• 69% of the offered volume was successfully sold
  
  
• Buyer interest was primarily concentrated on Mn 28-30% grade ore
  
  

On 18 February 2026, Sandur Manganese and Iron Ore Limited (SMIORE) conducted an auction offering 16,128 t of manganese ore, comprising both fines and lumps. The lots featured manganese grades ranging from 18% to 35%, with particle sizes between -10 mm and 100 mm.

The auction drew healthy market participation, resulting in the successful sale of approximately 11,088 t, around 69% of the total volume, while 5,040 t remained unsold. Demand was particularly robust for Mn 28-30% grade ore, with ten lots securing confirmed bids, reflecting concentrated buyer interest in mid-grade material.

Bidding activity demonstrated mixed momentum w-o-w

Bidding trends in the auction concluded on 18 February reflected a mixed market sentiment compared with the previous auction held on 12 February. The weighted average bid for Mn 18-20% grade lumps edged down by 1% to INR 3,306/t ($36/t), from INR 3,353/t ($37/t) in the earlier event.

In contrast, bids for Mn 26-28% and Mn 28-30% grade ore remained stable over the same period, indicating steady demand in these segments.

Meanwhile, Mn 34-35% grade ore recorded a notable 7% increase in bids, rising to INR 12,558/t ($138/t) from INR 11,728/t ($129/t) previously.

Separately, BigMints assessment for silico manganese (60-14) prices in Vizag remained w-o-w unchanged at INR 73,300/t ($806/t) on 18 February, in line with levels recorded on 11 February.