Moil Reduces October Manganese Ore Prices as Demand Weakens
Manganese Ore India Ltd. (Moil) has announced a price cut for its October manganese ore shipments, responding to a decline in demand from the domestic steel and manganese alloy industries. The company has decreased prices for ferro-grade ore, which contains 44% or higher manganese content, by 20% compared to September’s rates. Conversely, prices for lower-grade ores and silico-grade ores with 25% and 30% manganese content have seen a 5% increase.
Market Implications of Moil’s Pricing Changes
Moil’s pricing decisions are a critical barometer for the overall manganese market in India. As a key supplier, the company’s price adjustments typically influence other market players, prompting them to reevaluate their own pricing strategies. In the April-June quarter, Moil reported production of 470,000 tons of manganese ore, an 8% year-on-year increase, while sales grew by 15% to reach 453,000 tons.
Outlook for the Manganese Industry
These price adjustments highlight ongoing challenges in the manganese ore market, particularly within the steel and alloy sectors. Industry stakeholders will be closely monitoring Moil’s actions for further insights into demand trends and potential recovery in the coming months.
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