India's MOIL hikes manganese ore prices by up to 8.2% for Feb'25 - Know why?

• Global miners lift offers m-o-m for Feb'25

  
  
  

• Domestic SiMn prices shoot up in Jan'25
  
  

MOIL, an Indian state-owned mining company, has raised offers for manganese ore, effective 01 February 2025. For Mn grades above 44% saw an increase by 3.5% and below 44% hiked by 8.2% m-o-m, BigMint learnt from sources. Meanwhile, tags of all SMGR (Mn 30%, Mn 25%, and Mn 20%) and fines grades were raised by 8.2%.

Factors that supported prices

Imported manganese ore prices inch up m-o-m in Jan'25: South African-origin manganese ore (37%) prices saw a slight rise of 3% to a monthly average of $4.2/dry metric tonne unit (dmtu) in January 2025, compared to $4.07/dmtu in December 2024. Meanwhile, for manganese ore of Australian (46%) origin, prices edged by 2% to $4.55/dmtu in January as against $4.48/dmtu in December. The Gabonese-origin variant (Mn 44%) inched up by 4% to $4.37/dmtu in January against $4.2/dmtu in December.

Global miners lift manganese ore offers for Feb'25: Key players such as UMK and Eramet Comilog increased their prices for February 2025 shipments, leading to a rise in Indian import tags. In particular, Eramet Comilog, a leading manganese ore exporter from Gabon, set its February 2025 shipment prices of Mn 44.5% lumps at $4.3/dmtu and 43% grade chips at $4.1/dmtu, both CIF China. Both prices reflect a m-o-m increase of $0.2/dmtu.

Meanwhile, South32, another leading global miner, kept prices of 37% grade South African semi-carbonated manganese ore lumps steady m-o-m for February 2025 shipments. Prices stood at $4.05/dmtu CIF China.

Seller-driven dynamics push up SiMn tags in Jan: In January, the monthly average price of Indian silico manganese (60-14) climbed up by INR 3,700/tonne (t) ($43/t) m-o-m to INR 69,800/t ($806/t) exw-Raipur from INR 66,100/t ($764/t) in December 2024, as reported by BigMint.

Domestic silico manganese prices surged m-o-m, driven by limited supply and strong seller-driven market dynamics. Demand increased, as buyers were eager to secure material amid tightening availability.

India's SiMn export offers rise in Jan: Silico manganese (60-14) export prices increased by 5% or $43/t to $836/t FOB India in January, compared to $793/t in December. Meanwhile, the 65-16 grade also rose by 5% or $48/t to $937/t FOB India in January 2025, as against $889/t in December. Ongoing supply shortages in the market lifted prices slightly despite need-based demand.

Indian billet prices remain steady m-o-m: Domestic billet prices were mostly stable m-o-m, with tags at INR 39,000/t ($451/t) exw-Raipur in January compared to INR 38,900/t ($449/t) in December, a slight increase of INR 100/t ($1/t). Stable buying activity and moderate demand in both semi-finished and finished steel sectors kept domestic billet prices steady, contributing to a slight improvement in market confidence.

Outlook

Manganese ore prices could experience moderate upward pressure, driven by ongoing supply constraints and market volatility. Both domestic and global market dynamics will continue influencing price trends, keeping the market unpredictable in the short term.