Indian state-owned trading company MSTC, which had begun electronic auction sales of minehead stocks of Manganese ore available with Karnataka miner Sandur Manganese & Iron Ores (SMIORE), has fetched bids at similar levels for its 13,392 MT of Manganese ore of grade 20-32 Mn.
The floor price for ore cargoes containing 26-28 Mn and Fe content up to 29% had been set at INR 4,000/ MT, which had managed to fetch bids in the range of INR 4,000-5,350/MT.
The floor price for ore cargoes containing 20-22% and Fe content up to 32% had been set at INR 1,000/MT, which had managed to fetch bids in the range of INR 1,040-1,480/MT.
Earlier this month, MOIL, state owned and India’s largest Manganese ore producer, had decreased few high grade Manganese ore (Ferro grade) prices by 2.5-7% and increased low grade ore by 10 %(Silico Manganese grade).
Karnataka (E-auction Prices)
Mn% Range: 26 to 28
Fe% Range:27 to 29
Highest bid price: INR 5,350/MT
Lowest bid price: INR 4,000/MT
Royalty 4.2%, VAT 5.5% (on auction price and royalty), FDT 12% are applicable.
Mn% Range: 20 to 22
Fe% Range :30 to 32
Highest bid price: INR 1,480/MT
Lowest bid price: INR 1,040/MT
Royalty 4.2%, VAT 5.5% (on auction price and royalty), FDT 12% are applicable
Balaghat (MP)
28-30% Mn, Fe 8%: INR 6,750/MT
30-32% Mn, Fe 7%: INR 7,700/MT
Odisha
26-28 Mn: INR 7,500/MT
28-30 Mn: INR 8,250/MT
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