- MOIL trims Mn44% offers by 5%, other grades by 10-15%
- Eramet, South32 reduce offers for May’25 shipments
Indian manganese ore producers reduced their May 2025 offers, mirroring MOIL’s recent adjustments. This drop follows weaker market sentiment due to declining demand from alloy manufacturers, subdued trade activity, and global pricing pressures.
MOIL, the state-owned mining enterprise, adjusted manganese ore prices downward, effective 1 May 2025. Prices of ore grades above Mn 44% were reduced by 5%, while those below Mn 44% saw a 10% cut. SMGR grades, including Mn 30% and Mn 25%, experienced a 15% m-o-m decline.
Region-wise price adjustments
Madhya Pradesh: In Madhya Pradesh, manganese ore grades of 30-32% experienced a price reduction of more than 15% m-o-m, surpassing MOIL’s adjustments. This steeper decline reflects sluggish demand from alloy producers, which compelled miners to significantly reduce prices to remain competitive.
A leading miner stated, “Market conditions are currently unfavourable for miners, as alloy producers have scaled back production by approximately 20-30%, significantly dampening demand and forcing us to reduce our offers. Furthermore, we expect a deteriorating market environment in the coming months, which will likely restrain any upward movement in offers.”
Odisha: Major Odisha-based miners reduced prices of the 30-32% grade by 16% m-o-m, tracking MOIL’s recent revisions. Additionally, 28-30% grade prices dropped by 10%, reflecting ongoing market weakness and subdued demand from the downstream alloy segment.
A key miner told BigMint, “Falling offers from global suppliers and consistently weak demand have exerted downward pressure on prices. Most alloy producers held adequate ore inventories, resulting in limited, need-based procurement. This lack of active buying further contributed to the continued decline in domestic manganese ore prices.”
Andhra Pradesh: Miners in Vizag, a key export hub and major producer of low-grade manganese ore (below 25%), cut their offers by 11% m-o-m.
A Vizag-based miner observed, “With sufficient inventory available at ports, manufacturers opted to source material from there rather than domestic miners. This shift in buying preference led to a drop in prices, and we do not expect any significant price recovery in the coming months.”
Factors influencing manganese ore prices
Imported high-grade manganese ore prices dip m-o-m in April: South African-origin manganese ore (37%) prices declined to a monthly average of $4.07/dry metric tonne unit (dmtu) in April compared to $4.54/dmtu in March. Meanwhile, for manganese ore of Australian (46%) origin, prices shrank by 4% to $5.26/dmtu in April as against $5.48/dmtu in March. Gabon-origin ore (Mn44%) too moved down by 4% to $4.91/dmtu in April as against $5.12/dmtu in March.
Global miners reduce manganese ore offers for May: Eramet Comilog, a major manganese ore exporter from Gabon, has set its May 2025 shipment prices of Mn 44.5% lumps at $4.8/dmtu, marking a $0.3/dmtu decrease m-o-m. Reduced Chinese steel demand and oversupply from South Africa led Eramet to cut its prices.
Additionally, South32, a leading global miner, reduced prices of 37% grade South African semi-carbonated manganese ore lumps for May shipments by $0.6/dmtu m-o-m to $4.05/dmtu CIF China.
Domestic silico manganese prices edge down m-o-m: Domestic prices of 60-14 grade silico manganese inched down m-o-m by INR 1,100/t ($13/t) to around INR 71,700/t ($845/t) exw-Raipur in April compared to INR 72,800/t ($858/t) in March, as per BigMint’s assessment. Prices dipped due to weak steel mill demand and heightened competition among suppliers.
Indian billet prices remain stable m-o-m: Domestic billet prices were largely steady m-o-m, with tags up by 2% to INR 41,400/t ($488/t) exw-Raipur in April compared to INR 40,600/t ($478/t) in March. The price increase was supported by improved market sentiment following the government’s safeguard duty announcement. However, buying activity stayed limited, as earlier bookings and high spot prices constrained fresh deals, keeping overall market participation relatively muted.
Outlook
Manganese ore prices are expected to remain under pressure in the near term due to weak alloy demand, ample inventories, and global oversupply. Market participants expect limited price recovery, with subdued buying and a bearish sentiment likely to persist.
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