- MOIL cuts Mn ore prices by 5% for grades above, below 44%
- Eramet, South32 reduce offers for Jun’25 shipments
Indian manganese ore producers reduced their June 2025 offers, aligning with MOIL’s latest price cut, amid bearish global sentiment, subdued steel sector demand, and ongoing weakness in both domestic consumption and international market dynamics.
MOIL, the state-run mining company, revised its manganese ore prices, effective 1 June 2025. The company applied a 5% price cut across ferro grades, both above and below 44% Mn content. Additionally, SMGR grades were also reduced, with Mn 30% falling by 5% m-o-m, while Mn 25% saw a steeper decline of 10-15%.
Region-wise price adjustments
Madhya Pradesh: Manganese ore grades of 30-32% witnessed a 5% m-o-m price drop in Madhya Pradesh, mirroring MOIL’s revisions. This decline is attributed to tepid steel sector demand, market saturation, diminishing procurement interest, global price headwinds, and producers’ efforts to maintain competitiveness amid ongoing pricing realignments and bearish industry fundamentals.
A leading miner stated, “With domestic steelmakers scaling back purchases and global prices under pressure, we had little choice but to follow MOIL’s lead. Holding previous prices was not viable with this kind of market inertia and buyer resistance.”
Odisha: In Odisha, major miners cut prices of 30-32% manganese ore by 5% and the 28-30% grade by 4% m-o-m, following MOIL’s revisions. The reductions reflect muted regional demand, rising stockpiles, and increased competition among local suppliers striving to sustain dispatches amid tightening procurement and subdued industrial activity.
A key miner told BigMint, “Most buyers are now purchasing strictly on a need basis, avoiding bulk orders. With steel demand fluctuating and margins tightening, they are minimising inventory. This cautious approach forces us to adjust prices more frequently to keep material moving and maintain cash flow.”
Andhra Pradesh: Miners in Vizag, a key export hub and major producer of low-grade manganese ore (below 25%), cut their offers by 4% m-o-m.
A Vizag-based miner observed, “Domestic demand for low-grade manganese ore has weakened, especially from smaller ferro alloy units operating at reduced capacity. Buyers are cautious and only sourcing essentials. We had to cut prices to stimulate movement and avoid stock build-up before the monsoon.”
Factors influencing manganese ore prices
Imported high-grade ore down m-o-m in May: South African-origin manganese ore (37%) prices declined to 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 dropped by 8% to $4.84/dmtu in May as against $5.26/dmtu in April. Gabon-origin ore (Mn44%) also moved down by 8% to $4.52/dmtu in May as against $5.91/dmtu in April.
Global miners’ offers show mixed trends for Jun: Jupiter Mines Limited, operator of the Tshipi Borwa Manganese Mine in the Kalahari manganese field in South Africa, set offers for June shipments of its high-grade Mn36.5% semi-carbonate lumps at $3.85/dmtu CIF China, unchanged m-o-m.
However, 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 dip 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 fell m-o-m, 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 by 4% 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. 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 stay under pressure due to subdued steel demand, cautious buying, ample supply, and global price weaknesses. Market stability depends on recovery in steel production and improved downstream consumption in the coming months.
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