On June 30, 2024, Manganese Ore India Limited (MOIL), India’s leading producer of manganese ore, announced a revised price structure for various grades of manganese ore effective July 1, 2024. This move reflects MOIL’s strategy to adapt to evolving market dynamics.

Targeted Price Increases for High-Grade Ore

The revised prices see a strategic increase of 2% for all Ferro grades of manganese ore with a manganese content of 44% and above. This targeted price rise acknowledges the strong demand and potential for these high-grade ores in the global market.

Adjustments for Other Grades

For other categories of manganese ore, MOIL has implemented price adjustments to maintain market competitiveness. The prices of all other Ferro grades (below Mn-44%), Sinter Manganese Giribet (SMGR), Fines, and Chemical grades have seen a decrease of 8% compared to June 2024 prices. This strategic move aims to optimise sales volume and ensure a healthy balance between profitability and market responsiveness.

Electrolytic Manganese Dioxide (EMD) Price Remains Stable

The basic price of Electrolytic Manganese Dioxide (EMD), a key material in various industrial applications, remains unchanged at ₹2,10,000 per metric tonne (PMT) for the month of July 2024. This stability in EMD pricing signifies MOIL’s commitment to providing a reliable supply of this crucial material to its customers.

MOIL’s Strategic Approach to Market Dynamics

By implementing these targeted price adjustments, MOIL demonstrates its proactive approach to navigating the complexities of the global manganese ore market. The focus on high-grade ore pricing reflects an understanding of current market trends, while the adjustments for other grades ensure MOIL remains competitive and maximises overall sales volume. The continued stability in EMD pricing underscores MOIL’s commitment to its customers across various industries.

Looking Ahead

MOIL’s price revisions for July 2024 position the company to capitalise on emerging market opportunities while maintaining its position as a reliable and adaptable leader in the Indian manganese ore industry. On July 01, 2024, MOIL shares opened at ₹479.85 and touched the day high of ₹497.75 at 11:25 AM.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.