MOIL hikes manganese ore prices by 12.5% over the prevailing Mar’18 prices of Ferro grade, Silico Manganese grades and Fines for Q1.
Manganese Ore India (MOIL), the country’s largest and government-owned manganese ore producer with an annual production of 11.5 lakh MT, has raised prices of various grades by upto 12.5% for the quarter Apr-Jun’18. Prices have been hiked in line with global manganese ore prices.
Imported Manganese ore prices have firmed up as healthy demand was coming into the market from China. However, higher seaborne offers are now finding resistance on the back of sliding Manganese Alloy prices in China. Although, traders in China are keeping Manganese Ore prices firm at the port on account of low port inventory. Australian 46% lump is being offered at around USD 9.3/dmtu CIF India, Gabon 44% ore at USD 9/dmtu and South African 36%-37% Carbonate ore at around USD 8.5/dmtu CIF India.
MOIL’s Manganese ore prices although have been increased, but the pricing is still competitive, with regards to international prices of Manganese Ore.
MOIL has fixed/revised prices of different grades of Manganese Ore, effective from 01.04.2018 as under.
(1) The prices of Ferro Grade, SMGR (Mn 30% & Mn 25%) and Fines have been increased by about 12.5 %. However, two specific grade of Manganese Ore fines have been offered at a price discount of 5%, namely- BGF534and BG1466.
(2) The prices of Chemical grades of Ore have been increased by about 5%.
In the last quarter MOIL had increased prices by upto 12.5% in Jan’18, then again increased by upto 10% in Mar’18.
MOIL focuses on mining of manganese ores. The company sold 1.13 MnT of manganese ore in FY17 as compared to 0.97 lakh tonnes in FY16 (16.75% increase Y-o-Y).The company has set a long-term target of increasing production capacity to 3 MnT by 2030.
Leave a Reply