- Domestic silico manganese tags rise m-o-m in Feb’25
- Global miners increase offers for March shipments
MOIL, an Indian state-owned mining company, has increased offers for manganese ore effective 1 March 2025. For manganese grades above Mn44%, prices have been raised by 10% and below Mn44% grade prices have been hiked by 6.5% m-o-m, BigMint learnt from sources. Meanwhile, tags of all SMGR (Mn 30%, Mn 25%, and Mn 20%) are rolled over and fines grades sees appreciation by 6.5%.
Factors supporting prices
Imported manganese ore prices rise m-o-m in February: South African-origin manganese ore (37%) prices edged up by 8% to a monthly average of $4.55/dry metric tonne unit (dmtu) in February compared to $4.2/dmtu in January. Meanwhile, for manganese ore of Australian (46%) origin, prices rose by 12% to $5.1/dmtu in February as against $4.55/dmtu in January. Gabonese-origin ore (Mn44%) increased by 9% to $4.77/dmtu in February as against $4.37/dmtu in January.
Global miners raise manganese ore offers for March: Eramet Comilog, a major manganese ore exporter from Gabon, has set its March shipment prices for Mn44.5% lumps at $4.75/dmtu and Mn43% grade chips at $4.55/dmtu, both CIF China, marking a $0.45/dmtu increase m-o-m.
Additionally, South32, a leading global miner, has announced prices of Mn37% grade South African semi-carbonated manganese ore lumps. Prices have been raised by $0.6/dmtu m-o-m for March shipments to $4.65/dmtu CIF China.
Domestic silico manganese price rise m-o-m: India’s prices of 60-14 grade silico manganese increased by INR 3,260/tonne (t) ($37/t) m-o-m to around INR 73,160/t ($837/t) exw Raipur in February compared INR 69,900/t ($800/t) in January 2025, as per BigMint’s assessment. This increase is driven by higher export offers, fueled by rising demand and constrained supply, which has resulted in domestic deals being concluded at elevated prices.
India’s export offers increase: Silico manganese (60-14) export prices rose by 4% or to $867/t FOB India in February compared to $837/t in January. Meanwhile, the 65-16 grade edged up by 3% to $966/t FOB India in February as against $938/t in January. Prices rose due to limited material availability and the market’s acceptance of higher offers. Strong overseas demand further supported the price increase in recent export transactions.
Indian billet prices remain largely steady m-o-m: Domestic billet prices were mostly stable m-o-m, with tags at INR 39,300/t ($450/t) exw-Raipur in February compared to INR 39,000/t ($446/t) in January, up by 1%. Stable buying activity and moderate demand in semi-finished and finished steel sectors helped maintain domestic billet prices, boosting market confidence.
Outlook
Manganese ore prices are expected to maintain stability in the coming month, supported by continued demand from global markets, limited supply, and rising export offers from key miners.
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