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| Manganese Ore India |
India's state-owned mining company, Manganese Ore India Ltd. (Moil), has announced a price reduction for its October manganese ore shipments, reflecting weakened demand in the domestic steel and manganese alloy sectors. Moil has reduced prices for ferro-grade ore, which contains 44% or higher manganese content, by 20% compared to September's levels. However, the company raised prices for lower-grade ores, including those with less than 44% manganese content, and silico-grade ores with 25% and 30% manganese content, by 5%.
The Market Impact of Moil's Adjustments
Moil's pricing decisions are often a key indicator of trends in India's broader manganese market. As a major player in the Indian ore market, Moil's price changes typically influence other suppliers, who are likely to follow suit and adjust their prices in response to Moil's lead. In the April-June quarter, Moil produced 470,000 tons of manganese ore, marking an 8% increase year-on-year, while its sales also grew by 15%, reaching 453,000 tons during the same period.
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