India: Sandur's manganese ore auction fetches higher bids despite limited offtake

• Only 17% of offered volume booked inauction
  
  
• Bids for high-grade lots rise by INR 500-700/t
  
  

Sandur Manganese and Iron Ores Limited conducted a manganese ore auction on 15 June 2026, offering a total of 20,664 t of fines and lumps across manganese grades ranging from Mn 22% to 34% and size fractions of 10-100 mm. Bids edged higher w-o-w across all grades.

However, the auction saw weak and unenthusiastic market participation, leading to limited offtake of only around 3,528 t, about 17% of the total offered volume, while approximately 17,136 t remained unsold.

Bids strengthen compared to previous auction

Bidding activity in the 15 June auction improved compared with Sandur Manganese and Iron Ores Limiteds previous auction held on 5 June. The weighted average bid for Mn 26-28% grade material increased by INR 786/t ($11/t) to INR 7,867/t ($74/t). Similarly, bids for Mn 28-30% grade material also moved upward by INR 568/t ($6/t), reaching INR 9,402/t ($99/t).

According to BigMints assessment, silico manganese (60-14) prices in Visakhapatnam rose by INR 800/t ($8/t) to INR 75,800/t ($804/t) on 15 June 2026, up from INR 75,000/t ($796/t) on 8 June. Improved export inquiries alongside steady domestic demand boosted seller confidence, enabling smelters to sustain firm offers.