India: Silico manganese export prices dip w-o-w on weak overseas demand even as ore costs surge

• Exports under pressure as logistics woes dampen buyer appetite
  
  
• Rising ore costs fail to lift silico manganese export outlook
  
  

Indian silico manganese export prices edged down, as assessed on 13 April 2026 due to limited overseas demand, despite rising imported manganese ore prices further increasing cost pressure on smelters. Meanwhile, port supply constraints and container shortages at key exporting hubs have disrupted ore cargo flows, tightening availability and pushing ore offers higher, further elevating production costs.

As per BigMint's assessment on 13 April, Indian silico manganese export prices decreased w-o-w across key grades. The 65-16 grade was assessed at $971/t FOB, down by $40/t from $1011/t on 7 April. Meanwhile, the 60-14 grade fell by $14/t w-o-w to $921/t FOB.

Market overview

Weak overseas buying forces smelters to trim offers: Buying activity, particularly from the MENA region, has remained subdued as escalating ocean freight rates and the reluctance of insurance providers to cover cargo shipments amid ongoing geopolitical tensions have significantly increased landed costs and trade risks for overseas buyers. The elevated freight burden, coupled with uncertainty surrounding shipment security, has weakened procurement appetite across key export destinations. As a result, Indian smelters have faced mounting pressure to lower silico manganese offers in order to remain competitive in the export market, despite continued escalation in imported manganese ore prices and rising input costs. This widening disconnect between higher production costs and weak export realizations has further squeezed smelter margins.

Ore costs surge but silico manganese export prices weaken: Indias imported manganese ore prices continued to rise as on 11 April, supported by higher miner offers for May shipments, improved buying inquiries, and tighter supply from South Africa, Australia, and Gabon amid mine disruptions and limited spot cargoes. However, the sharp rise in ore prices had no meaningful impact on Indian silico manganese export prices, as subdued overseas demand and buyer resistance continued to weigh on export offers despite mounting cost pressure on smelters.

China's silico manganese prices soften w-o-w: Chinese silico manganese prices (Mn 65%, Si 17%) declined by RMB 200/t ($29/t) w-o-w to RMB 5,9506,250/t ($870914/t) ex-works amid persistent uncertainty over supply-demand fundamentals. Although several producers have announced output cuts, market participants remain cautious over the scale and consistency of implementation. On the demand side, steel mills have gradually resumed operations, offering mild support; however, recovery remains slow and has yet to translate into a significant demand uptick.

Outlook

Indian silico manganese export prices are likely to remain range-bound in the near term, as weak overseas demand may continue to cap gains despite rising ore costs and elevated production pressure on smelters.