India: MOIL hikes manganese ore prices in Apr’26, highest jump in two years

• Imported ore prices gain in Mar’26 on supply constraints
• Domestic silico manganese prices increase m-o-m

State-owned MOIL Limited has raised manganese ore prices sharply, effective 1 April 2026. This marks the highest increase in two years.

Prices of ferro grades with over 44% Mn content have been increased by 15%, while grades below 44% saw a 17.5% hike. Within the SMGR segment, prices of Mn 30%, Mn 25%, fines, and chemical grades were also raised by 17.5%.

Factors affecting prices

Imported high-grade ore prices rise m-o-m: In March 2026, imported high-grade manganese ore prices gained m-o-m, driven by geopolitical tensions and tight supply. South African 37% grade averaged $5.05/dmtu, up $0.41/dmtu from February; Australian 46% ore rose $0.37/dmtu m-o-m to $5.94/dmtu; and Gabonese 44% material increased $0.35/dmtu to $5.56/dmtu, reflecting supply constraints and elevated global risk factors impacting shipments.

Domestic silico manganese prices edge up m-o-m: Domestic prices of 60-14 grade silico manganese increased by INR 600/t ($6/t) m-o-m to INR 74,400/t ($793/t) exw Raipur in March, according to BigMint’s assessment. Strong smelter bookings at higher levels and elevated spot deals supported the market, while rising raw material costs and limited availability of cheaper material kept prices elevated.

India’s silico manganese export offers inch up: Silico manganese export offers rose marginally, with 60-14 grade prices edging up by $1/t m-o-m to $825/t FOB India from $824/t in February. Prices of the higher-grade 65-16 material also inched up by $1/t m-o-m to $921/t FOB India. Improved buying interest amid stable raw material costs and limited spot availability encouraged sellers to revise offers upward, resulting in modest gains across major export grades.

Global manganese ore miner raises April offers: Eramet Comilog, a major manganese ore exporter from Central Africa’s Gabon, lifted its price for 44.5% Mn content manganese lump ore by $0.27/dmtu m-o-m to $5.25/dmtu CIF China for April shipments, according to Mysteel.

Indian billet prices edge up m-o-m: Domestic billet prices edged up by 1% m-o-m to INR 41,500/t ($442/t) exw-Raipur in March, compared with INR 40,900/t ($436/t) in February.

Outlook

Manganese ore prices are likely to trend upward, supported by firm imported ore prices and shipment delays linked to escalating geopolitical tensions. Tight domestic supply and sustained demand from smelters continue to support the market.