India: Sandur's manganese ore auction draws stronger bids supported by rising ore prices
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- Nearly 62% of auction volume was sold
- Demand was heavily focused on Mn 26-28%
On 10 April 2026, Sandur Manganese and Iron Ore Limited (SMIORE) conducted an auction offering 30,240 t of manganese ore, including both fines and lumps across Mn 18-30% grades and sizes ranging from -10 mm to 100 mm.
The auction witnessed strong participation, with around 18,648 t (approximately 62%) successfully transacted, while 11,592 t remained unsold. Demand was notably strong for Mn 26-28% grade ore, with sixteen lots attracting confirmed bids.
Stronger bids reflect rising ore market sentiment
Bidding activity in the 10 April auction showed a notable w-o-w improvement compared to the 24 March session. The weighted average bid for Mn 20-22% grade lumps increased by INR 280/t ($3/t) to INR 4,648/t ($50/t), up from INR 4,368/t ($47/t) previously.
Other grades also recorded firm gains, with Mn 22-24% rising by INR 885/t ($9/t), Mn 26-28% by INR 1,049/t ($11/t), and Mn 28-30% by INR 1,689/t ($18/t). These upward movements were largely supported by recent price hikes from domestic miner MOIL and a parallel increase in imported manganese ore prices.
Meanwhile, BigMint reported a w-o-w increase in silico manganese (60-14) prices in Vizag, which rose by INR 700/t ($8/t) to INR 85,200/t ($912/t) on 10 April, compared to INR 84,500/t ($905/t) on 3 April. The uptick was primarily driven by a sharp rise in imported manganese ore prices, coupled with ongoing global supply tightness.
