Manganese Ore India (MOIL), the country’s largest and government owned manganese ore producer with an annual production of 11.5 lakh MT, has increased prices of various grades by around 10%.
Prices have increased on the backdrop of soaring manganese ore prices in the seaborne market. It is to be noted that manganese ore prices in global market have witnessed a steep increase due to rising demand from China and supply shortages.
MOIL has increased prices of various grades of manganese ore for remainder of first quarter effective from June 01, 2017. The prices have been increased by 10% on the existing prices, for all the grades.
Previously, MOIL had decreased its Manganese Ore prices in Apr’17, and kept prices unchanged in May’17.
|Domestic and Imported Manganese Ore Prices|
|MOIL Mn 37.5%, Fe 7%||11,714|
|MOIL Mn 44%, Fe 6%||13,373|
|Lumps, Mn 38%, South Africa||12,844|
|Lumps, Mn 44%, Fe 5%, Gabon||17,017|
|Lumps, Mn 46%, Fe 5%, Australia||18,239|
Imported Manganese Ore Market Outlook
Imported Manganese ore prices have continued to firm up as market participants said demand was coming into the market.
Higher seaborne offers were finding less resistance on the back of higher domestic Manganese Alloy prices in China as
well as rising manganese ore prices at port.
Sources also reported that fewer cargoes were being offered from Gabon and South Africa due to supply issues.
Seaborne ore prices continued on an upward trend. Australian 46% lump was heard at around USD 6.1/dmtu, Gabon 44% ore at USD 5.95/dmtu and South African
36%-37% Carbonate ore at around USD 5.2/dmtu. All prices are for June shipment, CIF India.