MOIL raised manganese ore prices by 5% for Q2 over the prevailing prices since Jun’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 raised prices of various grades by up to 5% for Q2 (July-Sep’18). Prices have been raised in line with rising global manganese ore prices.
The elevated price of Manganese Ore by MOIL can be attributed to the rising imported ore price due to rising Manganese alloys prices in China on the backdrop of the production cut. Rising offers for Manganese alloys in China has triggered a bullish sentiment among the Ore suppliers. The limited number of alloy producers have witnessed high margins recently due to increasing alloy prices, and in line with the same, the Ore traders have also raised their offers.
MOIL has fixed/revised prices of different grades of Manganese Ore as:
(1) The prices of Ferro Grade, SMGR (Mn 30% & Mn 25%) and Fines have been increased by about 5 %.
(2) A discount of 5% will be provided on the revised prices of the BGF534 grade.
(3) The prices of Chemical grades of Ore have been increased by about 5% as well on the existing prices.
| Domestic and Imported Manganese Ore Price | |
| Grade | INR/MT |
| MOIL Mn 37.5%, Fe 7% | 13516 |
| MOIL Mn 44%, Fe 6% | 17993 |
| Lumps, Mn 38%, South Africa | 17305 |
| Lumps, Mn 44%, Fe 5%, Gabon | 21100 |
| Lumps, Mn 46%, Fe 5%, Australia | 23012 |
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