India: MOIL cuts manganese ore prices by 10-25% for various grades
Manganese Ore India (MOIL), the country’s largest and government owned, manganese ore producer with an annual production of 11.5 lakh MT, has cut prices of various grades by 10-25% for the quarter April-June, 2015. Prices have been cut on back drop of falling Manganese alloys prices in Indian and global market. Last quarter MOIL had cut prices by 5-7.5%.
The prices of all Ferro Grades of ore (expect Fines) have been reduced by 10-15% , Silico grade prices have been reduced by 20-25% while the prices of Manganese Ore Fines have been reduced by 25% on the previous quarter price.
MOIL Manganese ore prices (in INR/MT)
| Particular | Grade/Size | Apr-June’15 | Jan-Mar’15 | %Change |
| Ferro Grade | 48% Mn, 5% Fe Lumps | 10,301 (USD 3.4/dmtu) | 11,445 (USD 3.8/dmtu) | 10% |
| Ferro Grade | 37.5% Mn, 7.5% Fe, Lumps | 7,183 (USD 3.0/dmtu) | 8,450 (USD 3.6/dmtu) | 15% |
| Silico Grade | 30% Mn, 8% Fe, Lumps | 5,309 (USD 2.8/dmtu) | 6,947 (USD 3.7/dmtu) | 23.5% |
| Silico Grade | 25% Mn, 7% Fe, Lumps | 3,191 (USD 2.0/dmtu) | 3,989 (USD 2.5/dmtu) | 20% |
| Silico Grade | 30% Mn, 6.5% Fe, Fines | 2,582 (USD 1.4/dmtu) | 3,443 (USD 1.8/dmtu) | 25% |
Prices excluding royalty of 5% and other taxes
Other private miners in the same region are yet to take a call. Last offers were at
30 Mn+ = INR 5,500 ( USD 2.9/dmtu)
38-40 Mn = INR 8,500 (USD 3.5/ dmtu)
44 Mn + = INR 10,500 (USD 3.8/ dmtu)
All prices inclusive royalty
Indian Manganese Alloy prices down by upto INR 7,000/MT (USD 112) in last 3-months
Indian Silico manganese prices have corrected by INR 6000/MT in Durgapur and INR 7000/MT in Raipur in last 3 months owing to weak demand in domestic and export market. Current Silico manganese (60-14) prices are assessed at INR 45,000-47,000/MT on ex- works basis and Ferro Manganese (70%) prices are assessed at INR 46,000-47,000/MT on Ex- Works basis.
Indian manufacturers believe that, MOIL prices will have little impact on current Ferro alloy prices, as they are already trading at a discounted price.
Indian Manganese ore production down by 13% in FY15
Indian Manganese ore production (provisional) for FY15 at was assessed at 22.4 lakh MT against production of 25.9 lakh MT in FY14, according to data maintained by SteelMint. Production of Manganese ore in India declined slightly, owing to decrease in overall production with mining restrictions in Odisha from May 2014.
Indian Manganese ore imports likely to cross 3 MnT
In FY14 , India had imported 21.8 lakh MT of Manganese ore. In FY15 (April-December), total imports stood at 26.4 lakh MT and likely to cross 30 lakh MT in FY15.
South Africa is the largest exporter of Manganese ore to India and the world, accounting for over 35% of Manganese ore exports globally. The Rand depreciating is allowing the South African miners to sell at very competitive rates to India. About 70% of our manganese ore imports have come from South Africa in FY15.
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