Manganese Ore India (MOIL), the country’s largest and government-owned manganese ore producer. Manganese Ore India Ltd (MOIL) generally fixes its prices on a quarterly basis but in line with the falling global Manganese Ore prices MOIL has decided to revise its price effective from 01-02-2019.
MOIL reduced the prices by 5% for Ferro Grade and Chemical grade ores. Meanwhile, the prices for Silico Manganese Grade and Fines remains unchanged.
Falling prices of Manganese alloys is considered by most as the major reason for declining ore prices, alongside weak demand.
Global Manganese Ore prices have been falling at a fast pace. Prices for Australian Lumps, Mn 46%, Fe 5%, are unchanged at USD 6.9/dmtu CNF India. South African Carbonate Ore (Lumps, Mn 37-38%)are being offered at USD 5.8/dmtu CNF India and Manganese ore Lumps, Mn 44%, Fe 5%, Gabon is offered at USD 6.5/dmtu for March deliveries.
MOIL has fixed/revised prices of different grades of Manganese Ore, effective from
01.02.2019 as under:
1) The prices of Ferro Grade and Chemical grade have been decreased by about 5% on the existing prices prevailing since 01.01.2019 and to continue the prevailing prices for the Silico Manganese ·Grade (SMGR 25% & SMGR 30%) and Fines.
2) To continue the prevailing discount of 10% on the price effective from 01.02.2019 and also to continue the existing bulk quantity discount ranging from 5% to 20% on the select grades of non-moving low grade manganese ore.
3) Ferro Manganese/ Ferro Manganese Slag and some identified grades of Manganese Ore will continue to be sold one-auction basis as well as through Metal Mandi (M3) of MSTC.
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