India: Silico manganese export prices gain w-o-w amid improved acceptance of higher offers

• Use of higher-cost ore bought in Apr'26 lifts production costs
  
  
• Expectations of tight supply push buyers to accept higher offers
  
  

Indian silico manganese export prices inched higher during the week ended 15 June 2026, underpinned by sustained cost pressures as major producers relied on high-cost manganese ore inventories accumulated during April 2026. This kept production costs elevated and strengthened sellers' pricing power. Moreover, improved price acceptance from overseas buyers, amid healthy demand from key destinations and expectations of limited availability later on, helped absorb higher offers, resulting in a modest rise in export prices.

BigMint, 65-16 grade prices rose by $6/t w-o-w to $918/t FOB, while 60-14 grade gained $6/t to $825/t FOB, Haldia/Vizag.

Confirmed deals (as per BigMint)

Factors influencing prices

Usage of higher-cost Apr'26 ore raises production costs: Indian smelters continued to consume manganese ore cargoes imported in April, when ore prices were significantly higher, resulting in elevated production costs. According to BigMint's price assessments, in April, South African Mn 37% ore increased by $0.48/dmtu m-o-m to $5.53/dmtu, Gabonese Mn 44% ore rose by $0.46/dmtu m-o-m to $6.02/dmtu, while Australian Mn 46% ore gained $0.49/dmtu m-o-m to $6.43/dmtu. These higher raw material costs translated into an increase of around $25-30/t in silico manganese production costs, strengthening sellers' pricing power. Consequently, producers raised export offers, with firm acceptance from overseas buyers supporting the uptick in Indian silico manganese export prices.

Additionally, rising ore prices from key overseas miners, who were allocating lower-than-required volumes to buyers -a shift from earlier practice when supply closely matched demand during that time.

Buyers rush to secure cargoes amid expectations of limited availability: Resumed bulk buying from key overseas markets, particularly Bangladesh, Europe, Egypt, and Japan, at elevated price levels provided additional support to Indian silico manganese export prices. Demand remained robust despite higher offers due to expectations of tightening supply. Several major Indian smelters have already booked volumes through August 2026, resulting in limited spot availability. Consequently, buyers were prompted to lock in cargoes at prevailing prices to ensure timely supplies, reinforcing the upward momentum in export offers.

Outlook

Indian silico manganese export prices are expected to remain firm in the near term, supported by elevated input costs, limited spot availability, and healthy demand from key overseas markets. However, subdued global steel sentiment may restrict further gains.