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Ferro Manganese Prices, Demand and Supply Overview
2025
Base Year
2023-2025
Historical Period
2026-2027
Forecast Period
Market Overview
India remained the priciest ferro manganese market tracked here through the first half of the year 2026 (H1 2026), with Q2 closing at a value of USD 1265/MT against Q1's USD 1242/MT, up 1.9%. Steady steel-sector demand kept a floor under the market, and the firmer manganese ore and coke feedstock costs added their own pull. The global average moved from USD 1176/MT to a value of USD 1197/MT, a similar gain of just a 1.8% percent. For the second half of 2026 (H2 2026), a range of an amount of USD 1185 to 1280/MT looks likely worldwide, supported by dependable steel-sector demand.
Ferro manganese is made by smelting manganese ore together with coke or coal and iron ore or scrap, either in a blast furnace or an electric arc furnace depending on the grade being targeted. Steel deoxidation and desulfurization is the dominant use, the alloy removing oxygen and sulfur impurities during steelmaking while also contributing manganese content to the finished product. High-strength alloy steel production draws on the remainder. Three things move the price: manganese ore and coke feedstock costs, steel-sector demand tied to overall production volumes, and the electricity costs that smelting operations depend on heavily.
Ferro Manganese Price Forecast for 2026
The second half of 2026 (H2 2026) opened firm across every market tracked here. India's established steel sector kept demand firm, Malaysia and China both saw steady export and domestic smelting demand, and South Africa's proximity to manganese ore feedstock kept it the most affordable of the four even as costs firmed everywhere.
A couple of factors bear watching. A manganese ore or coke feedstock cost spike, or a stronger than expected steel-production rebound, could actually push the prices past the top of the range. A slowdown in steel-sector demand could pull the market below the floor instead.
| Region | 2026 Price Range (USD/MT) | Outlook |
| Global Average | 1185 - 1280 | Steel-sector demand and firm feedstock costs support |
| China | 1165 - 1255 | Large smelting base keeps China competitive |
| India | 1250 - 1350 | Established steel-sector demand commands premium |
| South Africa | 1115 - 1200 | Manganese ore feedstock proximity keeps costs lowest |
| Malaysia | 1225 - 1320 | Steady export demand |
For the Quarter Ending June 2026
Ferro Manganese Prices Q2 2026:
- China: USD 1178/MT
- India: USD 1265/MT
- South Africa: USD 1125/MT
- Malaysia: USD 1234/MT
Ferro Manganese Prices in China
China's ferro manganese producers passed through the firmer manganese ore costs in the second quarter, and the domestic smelting demand held steady. The gain came to a value of 1.9%, from USD 1156/MT to USD 1178/MT.
Why did the price of Ferro Manganese change in Q2 2026 in China?
Manganese ore and coke feedstock costs firmed through the quarter. The domestic smelting demand held steady. The quarter closed at a value of USD 1178/MT.
Ferro Manganese Prices in India
India firmed by 1.9% to a value of USD 1265/MT, with the established steel-sector demand staying firm through the quarter.
Why did the price of Ferro Manganese change in Q2 2026 in India?
Steel-sector demand stayed firm. Feedstock costs climbed some more. The quarter closed at USD 1265/MT.
Ferro Manganese Prices in South Africa
South Africa gained 1.8%, reaching a value of USD 1125/MT, as proximity to manganese ore feedstock kept it the most affordable market even as costs climbed.
Why did the price of Ferro Manganese change in Q2 2026 in South Africa?
Feedstock costs climbed alongside the broader market. Feedstock proximity kept South Africa the most affordable market. The quarter closed at a value of USD 1125/MT.
Ferro Manganese Prices in Malaysia
Malaysia climbed 1.8% to a value of USD 1234/MT, with export demand continuing to hold steady through the period.
Why did the price of Ferro Manganese change in Q2 2026 in Malaysia?
Export demand held steady. Feedstock costs firmed alongside the region. The quarter closed at USD 1234/MT.
For the Quarter Ending March 2026
Ferro Manganese Prices Q1 2026:
- China: USD 1156/MT
- India: USD 1242/MT
- South Africa: USD 1105/MT
- Malaysia: USD 1212/MT
Ferro Manganese Prices in China
China gained 1.8%, reaching a value of USD 1156/MT, as smelting demand firmed up as the year opened.
Why did the price of Ferro Manganese change in Q1 2026 in China?
Smelting demand firmed as the year opened. Feedstock costs edged higher. The quarter closed at a value of USD 1156/MT.
Ferro Manganese Prices in India
India rose 1.8% to a value of USD 1242/MT, with steel-sector demand firming along with the new year.
Why did the price of Ferro Manganese change in Q1 2026 in India?
Steel-sector demand firmed with the new year. Feedstock costs continued climbing steadily. The quarter closed at USD 1242/MT.
Ferro Manganese Prices in South Africa
South Africa gained 1.8% to a value of USD 1105/MT, with feedstock costs firming alongside the broader market.
Why did the price of Ferro Manganese change in Q1 2026 in South Africa?
Feedstock costs firmed alongside the broader market. Domestic demand held steady. The quarter closed at a value of USD 1105/MT.
Ferro Manganese Prices in Malaysia
Malaysia climbed 1.8%, reaching USD 1212/MT, as export demand built through the quarter.
Why did the price of Ferro Manganese change in Q1 2026 in Malaysia?
Export demand built through the quarter. Feedstock costs firmed. The quarter closed at a value of USD 1212/MT.
Quarterly Ferro Manganese Price Trends
The global average climbed steadily across the window, from a value of USD 1120/MT in the first quarter of 2025 to a value of USD 1197/MT by the second quarter of 2026, a net gain of about 6.9%. Every single quarter posted a gain, the steady climb reflecting firming manganese ore and coke feedstock costs and dependable steel-sector demand across every market tracked here.
| Quarter | Price (USD/MT) | QoQ Change | Direction |
| Q2 2026 | 1197 | +1.8% | ↑ Rising |
| Q1 2026 | 1176 | +1.8% | ↑ Rising |
| Q4 2025 | 1155 | +1.0% | ↑ Rising |
| Q3 2025 | 1143 | +1.1% | ↑ Rising |
| Q2 2025 | 1131 | +1.0% | ↑ Rising |
| Q1 2025 | 1120 | - | - Stable |
What was Ferro Manganese Price in 2025?
2025 was a steadily firming year for ferro manganese across every market tracked here. The global average opened near a value of USD 1120/MT in the first quarter and climbed in every quarter to close the fourth at USD 1155/MT, a full year gain of 3.1%. Malaysia led in percentage terms, up 3.5%, on steady export demand. India gained 3.4%, South Africa 3.3%, and China 3.2%, all supported by firming feedstock costs.
Ferro Manganese Prices in China in 2025
China opened 2025 at a value of USD 1100/MT and closed the year at USD 1135/MT, a 3.2% gain. Domestic smelting demand held steady throughout the year, and manganese ore feedstock costs firmed in step. Net direction for the year: solidly higher, with steady smelting demand the main driver.
Ferro Manganese Prices in India in 2025
India opened 2025 at USD 1180/MT and closed at a value of USD 1220/MT, a 3.4% gain. Established steel-sector demand stayed firm throughout the year. Net direction for the year: solidly higher, with steady steel-sector demand the main driver.
Ferro Manganese Prices in South Africa in 2025
South Africa opened 2025 at a value of USD 1050/MT and closed at USD 1085/MT, a 3.3% gain, the most affordable of the four markets throughout on its proximity to manganese ore feedstock. Net direction for the year: solidly higher, with firming feedstock costs the main driver.
Ferro Manganese Prices in Malaysia in 2025
Malaysia opened 2025 at USD 1150/MT and closed at a value of USD 1190/MT, a 3.5% gain, the strongest in percentage terms among the four markets. Export demand stayed steady throughout the year. Net direction for the year: solidly higher, with steady export demand the main driver.
How We Can Help
Expert Market Research: Your Source for Real-Time Ferro Manganese Price Intelligence
Expert Market Research keeps a continuous watch on the ferro manganese pricing across every major producing and consuming region. A price alone says little, so the analysts here dig into what actually drives it: manganese ore and coke feedstock economics, steel-sector demand tied to overall production volumes, and electricity cost trends at smelting operations. The forecasts draw on feedstock trends, capacity data, and trade-flow shifts across all four reporting regions. Contact Expert Market Research today for the ferro manganese pricing data, bespoke market analysis, and strategic procurement advisory.
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
Key Questions Answered in the Report
Steel deoxidation and desulfurization is the dominant use, the alloy removing oxygen and sulfur impurities during steelmaking while contributing manganese content. High-strength alloy steel production draws on the remainder.
Q2 2026 averages: a value of USD 1178/MT in China, USD 1265/MT in India, USD 1125/MT in South Africa, and USD 1234/MT in Malaysia. Established steel-sector demand makes India the priciest of the four.
Steadily higher. The global average rose from USD 1155/MT in Q4 2025 to a value of USD 1176/MT in Q1 2026, and then to USD 1197/MT in Q2, a 3.6% gain across the half, on firming feedstock costs and steady steel-sector demand.
Manganese ore and coke feedstock costs firmed across every region, while steel-sector demand held steady to strong across every market tracked.
Figure on a range of USD 1185 to 1280/MT globally for the rest of the year. Dependable steel-sector demand supports the move.
India carries the firmest premium on established steel-sector demand, Malaysia and China sit in a steadier middle tier, and South Africa stays the most affordable on its proximity to manganese ore feedstock.
Monthly. For the live figures, reach out to the Expert Market Research team.
Manganese ore and coke feedstock costs are the main lever, steel-sector demand close behind, and then electricity costs at smelting operations.
South Africa's proximity to manganese ore feedstock keeps it a low-cost production base, while China, India, and Malaysia maintain substantial smelting capacity of their own.
Lean on the quarterly trends and forecasts to time steel-linked purchasing around manganese ore and coke feedstock cycles. Tracking steel-production trends can help buyers anticipate demand shifts before they show up in spot prices.
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