India: MOIL lifts manganese ore prices for Mar'26 deliveries

• Imported manganese ore prices rise on tight supply
  
  
• Domestic silico manganese prices rise due to higher costs
  
  

State-owned miner MOIL Limited has announced a price revision for manganese ore effective 1 March 2026, increasing rates for all ferro grades-both above and below 44% Mn content-by 2%. Within the SMGR segment, Mn30% prices have also been raised by 2%, while Mn25% and Mn20% grades have been retained at February 2026 levels, reflecting a selective upward adjustment across key categories.

Factors affecting prices

Imported high-grade ore prices inch up m-o-m: Imported high-grade manganese ore prices recorded m-o-m gains in February 2026, with South African 37% grade averaging $4.62/dmtu, up $0.20/dmtu from January, Australian 46% ore rising $0.08/dmtu to $5.55/dmtu, and Gabonese 44% material increasing $0.08/dmtu to $5.19/dmtu, as stronger buying interest from China, the worlds largest importer, tightened global supply and underpinned prices.

Domestic silico manganese prices rise m-o-m: Domestic prices of 60-14 grade silico manganese increased m-o-m by INR 2,000/t to INR 73,800/t ($810/t) exw Raipur in February, according to BigMints assessment. Firm spot transaction levels supported the uptrend, while sharply higher raw material costs compressed smelter margins, leading producers to sustain offers at elevated levels. The absence of cheaper material in the market further curtailed any downside risk.

India's silico manganese export offers increase: Silico manganese export offers rose in February, with 60-14 grade prices rose by $9/t m-o-m to $824/t FOB India, up from $815/t in January. Prices for the higher-grade 65-16 material also went up, increasing by $8/t m-o-m to $920/t FOB India. Improved buying interest amid stable raw material costs and limited spot availability encouraged sellers to revise offers upward, resulting in modest gains across major export grades.

Global manganese ore miners raise March offers: Global manganese ore miners lifted March offers amid tightening supply conditions. South32 raised its March offer for South African Mn37% ore to $4.5/dmtu, up $0.10/dmtu, supported by supply disruptions in South Africa and steady steel demand. Meanwhile, Eramet Comilog set March shipment prices at $4.98/dmtu CIF China for Mn44.5% lumps and $4.78/dmtu for Mn43% chips, both higher by $0.08/dmtu m-o-m.

Indian billet prices up m-o-m: Domestic billet prices were edged up by 1% m-o-m at INR 40,900/t ($449/t) exw-Raipur in February, compared with INR 40,500/t ($446/t) in January.

Outlook

Prices are expected to remain stable, supported by firm raw material costs and steady steel output, keeping the market balanced without significant fluctuations.