- Imported Mn ore prices in India drop by 3-8% m-o-m
- Indian billet prices down by 4% m-o-m in May’25
MOIL, the state-owned mining enterprise, has revised prices of manganese ore effective 01 June 2025. The company has implemented a 5% reduction in prices for ferro grades exceeding and below Mn 44%. Additionally, all SMGR grades, including Mn 30% and Mn 25%, have seen a m-o-m decline of 5% and 10-15% respectively.
Factors affecting prices
Imported high-grade ore down m-o-m in April: South African-origin manganese ore (37%) prices declined at a monthly average of $3.93/dry metric tonne unit (dmtu) in May compared to $4.07/dmtu in April. Meanwhile, for manganese ore of Australian (46%) origin, prices dipped by 8% to $4.84/dmtu in May as against $5.26/dmtu in April. Gabon-origin ore (Mn44%) too moved down by 8% to $4.52/dmtu in May as against $5.91/dmtu in April.
Global miners offers largely steady for June: Jupiter Mines Limited, operator of the Tshipi Borwa Manganese Mine in the Kalahari manganese field in South Africa, has set offers for June shipments of its high-grade Mn36.5% semi-carbonate lumps at $3.85/dmtu CIF China, unchanged m-o-m.
Additionally, Eramet Comilog, a major manganese ore exporter from Gabon, has set its June shipment prices for Mn44.5% lumps at $4.4/dmtu, and for Mn43% at $4.2/dmtu, marking a slight $0.4/dmtu decline m-o-m for both grades. Meanwhile, South32 trimmed June 2025 prices for 37% South African manganese ore by $0.25/dmtu to $3.80/dmtu CIF China.
Domestic silico manganese inches down m-o-m: Domestic prices of 60-14 grade silico manganese edged down m-o-m to around INR 71,200/t ($832/t) exw Raipur in May compared to INR 71,600/t ($837/t) in April, as per BigMint’s assessment. Silico manganese prices dipped slightly due to sluggish demand, subdued export activity, and sufficient market supply. Buyer interest remained low as uncertainty in the steel sector persisted.
India’s SiMn export offers largely steady m-o-m: Silico manganese (60-14) export offers edged down by 1% to $839/t FOB India in May compared to $844/t in April. Meanwhile, the 65-16 grade also fell by 1% to $931/t FOB India in May as against $939/t in April.India’s silico manganese export prices remained largely stable w-o-w, as muted inquiries and sufficient inventories with buyers led to a slowdown in trade. Buyers’ resistance to higher offers also made it difficult for sellers to hold firm on quotations.
Indian billet prices down by 4% m-o-m: Domestic billet prices declined m-o-m, with tags at INR 39,800/t ($465/t) exw-Raipur in May compared to INR 41,300/t ($483/t) in April, down by 4%. The price drop is likely attributed to weak demand in the finished steel market and ongoing liquidity constraints, which have limited buyer activity and contributed to softer market sentiment across key regions.
Outlook
Manganese ore prices are likely to remain range-bound in the near term, supported by steady offers from global miners, balanced supply, and cautious demand trends amid subdued steel market conditions.
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