Key Numbers
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High-grade manganese ore index (44% Mn, CIF Tianjin): ~around $5.33/dmtu
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Weekly movement: +4.31%
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Semi-carbonate manganese ore index (36.5% Mn, CIF Tianjin): ~around $4.74/dmtu
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Weekly movement: +4.41%
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Gabon–China bulk vessel freight: ~$46–47/t vs ~$41–42/t earlier
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India SiMn (Raipur) index: ₹73,400/t this week vs ₹72,800/t last week
Market Analysis
The imported manganese ore market recorded a strong upward movement this week, with both major benchmark indices registering notable gains.
The high-grade manganese ore index (44% Mn, CIF Tianjin) moved up by approximately 4.31% week-on-week, with prices currently hovering around the ~$5.33 per dmtu level.
Similarly, the semi-carbonate manganese ore index (36.5% Mn, CIF Tianjin) increased by about 4.41%, with market levels seen around ~$4.74 per dmtu.
The price increase reflects tightening supply dynamics and rising logistics costs across the global manganese ore supply chain.
One of the major cost drivers this week has been the increase in bulk freight rates for manganese ore shipments, particularly on the Gabon–China route, where freight costs have moved up to around $46–47 per tonne, compared with $41–42/t recorded earlier.
Higher shipping costs are largely attributed to rising fuel prices, tightening vessel availability, and increased insurance risk premiums in global maritime routes.
At the same time, macroeconomic pressures are also influencing the market. A depreciating Indian rupee, along with rising crude oil, energy, and transportation costs, is adding further cost pressure across the ferro alloy supply chain.
Supply uncertainties from key manganese ore exporting regions are also being closely monitored by alloy producers and traders. Any potential disruptions in shipments from major suppliers such as South Africa, Gabon, and Australia could further tighten global ore availability.
Impact on the Manganese Alloy Market
The rise in manganese ore prices is already beginning to reflect in the ferro alloy market, particularly in India’s key production hubs.
As reported in the Metalsbuy Weekly SiMn Index, SiMn (60/14) Raipur prices increased to ₹73,400/t this week from ₹72,800/t last week, while Raigarh offers moved up to around ₹72,700/t from ₹72,200/t.
The upward movement indicates a cost-push cycle developing in the manganese alloy sector, where rising raw material prices are gradually being passed on to finished alloy prices.
For manganese alloy exporters, the market environment has become increasingly complex. Exporters are now factoring in multiple variables including:
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Higher manganese ore costs
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Increased freight and insurance premiums
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Rupee depreciation impacting import costs
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Exposure to sensitive export markets such as Iran
Market Pulse Insight
The current market trend suggests that manganese ore prices may remain firm in the near term, particularly if freight rates remain elevated and supply risks persist.
With steel prices also showing signs of recovery — including billet prices in Mandi Gobindgarh moving up to around ₹44,200/t from ₹43,600/t earlier — demand support from the steel sector could further reinforce the manganese alloy market.
For ferro alloy producers in India, raw material costs will remain the key factor shaping SiMn pricing trends over the coming weeks.