MOIL Announces 4% Price Cut Across Manganese Ore Grades for May 2026

Synopsis: MOIL Limited (NSE: MOIL) has revised the prices of its various manganese ore grades, effective May 1, 2026. The state-owned miner has implemented a broad-based price reduction of 4% across ferro, SMGR, fines, and chemical grades, while keeping the price of Electrolytic Manganese Dioxide (EMD) stable.

MOIL Limited announced a downward revision in manganese ore prices as part of its routine monthly pricing update, effective from midnight of April 30, 2026. The revision impacts nearly all key product categories. Prices for ferro grades, including both high manganese content (Mn-44% and above) and lower grades, have been reduced by 4% compared to April 2026 levels. 

Similarly, Silico Manganese Grade (SMGR 30% and 25%) and fines have also witnessed a 4% price cut, while chemical grade ore prices were lowered by the same margin.

However, the company has kept the price of Electrolytic Manganese Dioxide (EMD) unchanged at Rs. 1,80,000 per metric ton, maintaining the rate in place since April 1. The pricing adjustment reflects prevailing global market conditions and domestic demand-supply dynamics in the steel and alloy sectors, where manganese ore remains a key raw material.

This price adjustment is likely a response to prevailing global market conditions and domestic demand-supply dynamics within the steel and alloy manufacturing sectors, where manganese ore is a critical raw material.

The market absorbed the price cut with relative calm, as shares of MOIL Limited showed resilience during Monday’s trading session. As of 3:03 PM IST on May 4, 2026, the stock was trading at Rs. 312.20, up 0.42% from its previous close. It opened at Rs. 310.90 and touched an intraday high of Rs. 314.15.

The company’s market capitalization stands at Rs. 6,352.81 crore, with 5.93 lakh shares traded and a delivery percentage of 41.36%, indicating steady investor confidence despite softer manganese prices. Although the stock is currently below its 52-week high of Rs. 405.60, it has rebounded strongly from its March 2026 low of Rs. 242.35.

Company Overview

MOIL Limited is a Miniratna state-owned manganese ore mining company headquartered in Nagpur, India. It is the largest producer of manganese ore in the country, operating several mines in the states of Maharashtra and Madhya Pradesh. The company plays a pivotal role in the Indian steel industry, providing essential raw materials for the production of ferroalloys and stainless steel. In addition to mining, MOIL also operates plants for the production of value-added products like Electrolytic Manganese Dioxide (EMD) and Ferro Manganese.

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