Indian miners raise manganese ore prices for Jan’26

• • Indian manganese ore market strengthens in January

• • Regional price moves driven by demand dynamics

In January 2026, India’s manganese ore market strengthened as MOIL Ltd raised ferro grade prices by 3% for grades both above and below 44% manganese. Regional miners largely mirrored this move, aligning their offers with the revised pricing.

Region-wise price adjustments:

Madhya Pradesh: Madhya Pradesh miners have raised manganese ore prices by 1-3% in January 2026, driven by steady demand and constrained supply. Miners attribute the hike to improved industrial activity and rising input costs, which necessitate price adjustments. The market remains optimistic, expecting gradual price appreciation in the coming months as demand sustains momentum and supply-side bottlenecks persist, signaling a bullish trajectory for manganese ore in the near term.

Odisha: Odisha manganese ore prices saw a 1-6% increase in January 2026, driven by domestic buyers’ acceptance of higher global offers amid robust demand from steel manufacturers.

One key miner stated, “With global manganese ore prices firming, domestic buyers are willing to meet higher price points, reflecting improved industrial activity and cost pressures. We expect this positive momentum to sustain in the near term, supported by steady consumption and export demand.” Market watchers anticipate that Odisha’s manganese ore prices will continue a gradual upward trajectory as these factors play out.

Andhra Pradesh: Andhra Pradesh manganese ore prices remained unchanged in January 2026 as demand and supply stayed balanced. Domestic steelmakers continued sourcing at existing rates, while miners maintained stable offers, reflecting steady market sentiment. A leading miner noted, “With demand and supply in equilibrium, theres no immediate trigger for price changes.” Analysts expect prices to remain range-bound in the near term, barring any sudden shifts in consumption or export interest.

Factors affecting prices:

Imported high-grade ore prices edge up m-o-m: Imported high-grade manganese ore prices recorded modest m-o-m gains in December, supported by tightening global supply and stronger buying interest from China. South African-origin 37% ore averaged $4.28/dmtu, up slightly from $4.25/dmtu in November. Australian-origin 46% ore saw a firmer increase, rising to $5.18/dmtu from $4.95/dmtu, while Gabon-origin Mn44% ore also edged higher to $4.84/dmtu, compared with $4.62/dmtu in the previous month. The upward trend was primarily driven by reduced output from major mining operations, which constrained availability in the seaborne market.

Global miners post mixed January offers: Global manganese ore producers reported mixed Jan’26 offers. South32 kept its South African Mn37% ore prices unchanged at $4.15/dmtu, supported by balanced supply-demand, stable alloy costs, and steady Chinese buying. In contrast, UMK and Jupiter Mines raised January offers for 36% and 36.5% semi-carbonate lumps by $0.05/dmtu to $4.15/dmtu CIF China. Meanwhile, Eramet Comilog increased Mn44.5% lump and Mn43% chip prices by $0.20/dmtu, citing stronger Chinese demand, tighter supply, higher costs, and firmer alloy sentiment.

Domestic silico manganese prices ease m-o-m: Domestic prices of 60-14 grade silico manganese inched down m-o-m by INR 1,700/t to INR 69,500/t ($773/t) exw Raipur in December, as per BigMint’s assessment. The slight downturn was driven by a softening market environment and volatility in steel prices. Weak buying sentiment and subdued demand from the finished steel segment prompted mills across key consuming regions to adopt a cautious procurement approach, limiting buying activity and exerting mild downward pressure on domestic prices.

India’s silico manganese export offers inch down m-o-m: Silico manganese (60-14) export offers edged down by $19/t m-o-m to $810/t FOB India in December, compared with $829/t in November. Meanwhile, the 65-16 grade also inched down by $20/t m-o-m to $904/t FOB India in December. Indias silico manganese exports slowed as buyers delayed bookings, remaining cautious amid expectations of price corrections during year-end holidays.

Indian billet prices rise m-o-m: Domestic billet prices were up by 4% m-o-m at INR 37,000/t ($411/t) exw-Raipur in December, compared with INR 35,500/t ($395/t) in November. The m-o-m increase in domestic billet prices was driven by stronger demand for semi-finished steel amid a tightening supply environment.

Outlook:

Indian manganese ore prices are expected to rise in the near term, supported by robust domestic demand, acceptance of higher global offers, and sustained industrial and export activity.