MOIL lowers manganese ore prices by 15%for the remainder of Q1 over the prevailing prices since May’18 for Ferro Grade, Silico Manganese grade, and Fines.
Manganese Ore India (MOIL), the country’s largest and government-owned manganese ore producer with an annual production of 11.5 lakh MT, has reduced prices of various grades by up to 15% for the remainder of quarter Apr-Jun’18. Prices have been lowered in line with global manganese ore prices.
Prices have been slashed on the backdrop of falling manganese ore prices in the seaborne market. It is to be noted that manganese ore prices in the global market have witnessed a downward correction due to resistance from Chinese buyers.
Chinese alloy producers recently witnessed limited demand for their product and hence showed resistance against high manganese ore prices while demanding the same to be reduced to protect their margins.
MOIL has fixed/revised prices of different grades of Manganese Ore, effective from 01.06.2018 as under.
(1) The prices of Ferro Grade, SMGR (Mn 30% & Mn 25%) and Fines have been decreased by about 15 %.
(2) A discount of 5% will be provided on the revised prices of BG102, BG1408 & BGF534 grades and a discount of 10% will be provided on the revised prices of the BG1466 grade of commodity.
(3) The prices of Chemical grades of Ore have been reduced by about 20% on the existing prices.
| Domestic and Imported Manganese Ore Price Comparison | |
| Grade | INR/MT |
| MOIL Mn 37.5%, Fe 7% | 12,872 |
| MOIL Mn 44%, Fe 6% | 17,136 |
| South Africa Mn 37-38% | 15,021 |
| Gabon Mn 44% | 19,752 |
| Australia Mn 46% | 21,266 |
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