- Higher alloy prices support MOIL’s October ore revision
- Global offers and domestic prices signal stronger market
State-owned MOIL Ltd has raised manganese ore prices by 5% across all grades for October 2026 deliveries. Prices for ferro-grade ore with manganese content of 44% and above, as well as ferro-grade ore below 44%, chemical grades, silico manganese grade (SMGR) material and fines, have all been revised upward by 5%.
Factors affecting prices
Global manganese ore miners increase November offers: South32 and Eramet Comilog raised November manganese ore offers for China, with South32 up $0.15/dmtu and Comilog grades up $0.10/dmtu m-o-m. Higher offers reflect tighter spot availability and increased replacement costs, supporting stronger supplier price indications for upcoming cargoes despite cautious buyer interest.
Domestic silico manganese prices rise m-o-m: Domestic 60-14 grade silico manganese prices rose by INR 3,800/t ($40/t) m-o-m to INR 77,800/t ($812/t) exw Raipur in September. High power prices made grid sales more attractive than SiMn production, prompting several Raipur smelters to curtail output. Planned maintenance and committed October volumes further tightened spot availability, supporting prices.
Imported manganese ore prices remained largely steady with slight corrections m-o-m: Imported high-grade manganese ore prices edged down in September compared to August, with South African 37% grade averaging $4.22/dmtu (down $0.08/dmtu), Australian 46% ore at $5.19/dmtu (down $0.03/dmtu), and Gabonese 44% material at $4.82/dmtu (down $0.13/dmtu).Prices inched down m-o-m, pressured by cautious buying, elevated landed costs and subdued downstream demand, while softer overseas quotations added further pressure.
India’s silico manganese export offers advance: Silico manganese export offers went up, with 60-14 grade prices rising by $27/t m-o-m to $836/t FOB India from $809/t in August. Meanwhile, prices of the higher-grade 65-16 material also moved up by 46/t m-o-m to $932/t FOB India. Strengthened market sentiment, along with constrained supply and elevated production expenses, encouraged exporters to raise offers across key grades.
Domestic billet prices strengthen m-o-m: Domestic billet prices increased by 10% m-o-m to INR 43,500/t ($454/t) exw-Raipur in September, supported by firm demand from sponge iron, pig iron and billet producers, along with higher raw material costs and constrained pellet availability.
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