India: Silico manganese prices rise w-o-w on cost push; weak uptake caps rally

• Eramet Comilog, MOIL raise manganese ore prices
  
  
• Buyers remain cautious amid stable steel prices
  
  

Indias domestic silico manganese prices rose in the week ending 8 April 2026, driven by price hikes from key global miners amid rising logistics costs. Additionally, MOILs higher April delivery prices further supported the uptrend. However, limited acceptance of high-priced material later led to a slight correction in prices today.

As per BigMints assessment on7 April 2026, domestic silico manganese (60-14) prices moved up across key markets compared to 1 April 2026. In Raipur, prices rose by INR 7,000/t to INR 88,000/t exw ($953/t). Durgapur saw an increase of INR 6,800/t to INR 87,500/t ($948/t), while Vizag gained INR 7,600/t to INR 86,800/t ($940/t). Raigarh prices also climbed by INR 8,100/t to around INR 87,600/t ($949/t).

"Bulk trades and inquiries of silico manganese saw a dip. Also, with US declaring ceasefire in the Iran conflict yesterday, Brent crude oil futures have come down, following which vessel freight rates are expected to drop. This is likely to lower the landed cost of imported manganese ore to India. This has reduced bids from steel mills today for manganese alloys," said a market participant.

Confirmed deals (as per BigMint)

Factors influencing prices
Imported ore prices gain; global miner hikes offers: On the cost front, the rally in imported manganese ore prices was the key driver of the w-o-w price rise. Imported manganese ore prices continued their upward trajectory as key global miners raised their May 2026 offers to China. Eramet Comilog increased its offers to $5.75/dmtu CIF China for Mn 44.5% lumps and $5.55/dmtu for Mn 43% chips, both up by $0.5/dmtu m-o-m.

MOIL price hikes push up alloy production costs: Domestic manganese ore prices moved up, supported by MOILs sharp price revision for April 2026 deliveries, marking the steepest increase in the past two years. Prices of ferro grades with over 44% Mn content were raised by 15%, while those below 44% saw a higher increase of 17.5%. In the SMGR segment, Mn 30%, Mn 25%, fines, and chemical grades also witnessed a 17.5% increase. The upward revision significantly strengthened the cost structure for alloy producers, limiting their flexibility to reduce prices despite weak demand conditions.

Weak buying triggers slight correction in recent days: Despite firm cost support, silico manganese prices witnessed a mild correction in recent days due to limited acceptance at higher levels. Buyers remained cautious amid stable steel prices, opting for need-based procurement rather than bulk bookings.

Market participants reported deals at INR 87,000-88,000/t ex-works Raipur and Vizag, with some transactions even concluded near INR 86,000/t ex-works. These lower-priced deals prompted sellers to adjust offers downward to conclude transactions.

Outlook

Domestic silico manganese prices may witness slight downward pressure next week due to lukewarm buying interest. However, any sharp correction is unlikely, as elevated manganese ore prices are expected to provide strong cost support.