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MOIL cuts manganese ore prices by 5-10% for May 2025.
Weak steel demand and high inventories triggered the reduction.
Market conditions to dictate further price decisions.
India’s state-run manganese mining major MOIL Limited has announced a downward revision in the prices of all grades of manganese ores for May 2025 deliveries. The company made the official announcement on Tuesday, citing market conditions and subdued demand from the steel and alloy industries.
As per the latest notification, prices for all ferro-grade manganese ore varieties have been slashed by 5-10% compared to April rates. Chemical-grade and fines have also witnessed similar reductions, reflecting the softening sentiment in the domestic manganese market.
Industry analysts attribute the price cut to a combination of factors including weak demand from steel mills, lower international manganese ore prices, and ample domestic inventories. With steel production facing price pressures and mills reducing alloy orders, manganese ore demand has slowed notably in recent weeks.
A senior MOIL official mentioned that the company would continue to monitor market dynamics closely and adjust pricing strategies in line with demand recovery and global price trends.
The latest move aims to support the alloy and steel-making industries by offering cost relief amid subdued finished steel prices and regional geopolitical uncertainties affecting trade flows.
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