- MOIL raises Mn ore tags marginally for Apr
- Global miners lift offers for Apr shipments
Indian manganese ore producers have largely maintained stable offers for April 2025 deliveries, aligning them closely with the recent price adjustments announced by MOIL, despite rising production costs.
Effective 1 April 2025, MOIL implemented a 3% m-o-m price increase for ore grades above Mn 44%, while variants below Mn 44% registered a marginal 0.5% uptick. Additionally, all SMGR grades-including Mn 30%, Mn 25%, and Mn 20%-were revised upward by 0.5% m-o-m.
Region-wise price adjustments
Madhya Pradesh: In Madhya Pradesh, prices of grades below 44% remained unchanged m-o-m, while those above 44% saw a marginal uptick of around 1%. This movement is largely in line with MOIL’s latest price revisions. Market sentiment remained stable, with most miners indicating that April allocations were nearly or fully booked. However, subdued buyer response to higher offers limited the scope for broader increases, prompting producers to maintain a cautious pricing approach.
A leading miner stated, “Despite facing rising input costs, we have kept prices largely unchanged this month. While miners in the region are operating at comparable levels, profitability remains a challenge. Recent policy changes, introduced by the government following the Prime Minister’s visit, have further increased production costs. While demand remains steady, the key concern continues to be the ability to cover costs and generate profits.”
Odisha: Major Odisha-based miners maintained stable prices m-o-m for 30-32% grade manganese ore, aligning tags closely with MOIL’s recent adjustments. However, prices of the 28-30% grade saw a slight increase of 1%.
The stability in pricing reflects caution in response to global market uncertainties, which have prompted more measured decision-making.
A key miner informed BigMint, “The stability in prices is largely a result of consistent inquiry levels. Additionally, steady prices of manganese alloys have made it challenging to adjust our pricing, despite the rising production costs. Only 3-4 mines remain actively operational in the region, with the majority closed due to losses. The outlook for Indian miners appears increasingly difficult in the coming months.”
Andhra Pradesh: Miners in Vizag, a key export hub and major producer of low-grade manganese ore (below 25%), maintained stable prices m-o-m.
A miner from Vizag noted, “The market was resistant to our efforts to raise prices. Demand for low-grade ore remained weak, and with smelters holding sufficient inventory, we had little room to revise offers upward.”
Factors influencing manganese ore prices
Imported high-grade manganese ore prices up m-o-m in Mar: In March, Australian-origin ore (46%) saw a 7% rise to $5.48/dmtu, from $5.10/dmtu. Similarly, Gabon-origin manganese ore (44%) increased by 7% to $5.12/dmtu from $4.77/dmtu in the previous month. Meanwhile, South African-origin manganese ore (37%) prices were marginally down at an average of $4.54/dmtu, from $4.55/dmtu in February.
Global miners raise manganese ore offers for Apr: Eramet Comilog, a key manganese ore exporter from Gabon, raised its April shipment prices of Mn 44.5% lumps by $0.35/dmtu m-o-m to $5.1/dmtu, supported by tight global supply. South32 maintained its prices for South African 37% semi-carbonated lumps at $4.65/dmtu CIF China in April. Meanwhile, Jupiter Mines set its April offers for high-grade Mn 36.5% semi-carbonate lumps at $4.45/dmtu CIF China, reflecting a $0.35/dmtu increase m-o-m. The higher prices can be attributed to ongoing supply tightness and stable demand in the global market.
Domestic silico manganese prices stable m-o-m: India’s 60-14 grade silico manganese prices stood at around INR 72,920/t ($852/t) exw-Raipur in March, down slightly from INR 73,170/t ($855/t) in February, as per BigMint’s assessment. Prices were more or less stable, largely due to buyers’ resistance to higher offers, which led to a cautious trading environment despite increasing input and production costs.
Outlook
The outlook for India’s manganese ore market remains cautiously stable. While demand holds firm, rising input costs and restrained pricing power amid global uncertainties are expected to keep margins under pressure for domestic miners.
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