MSTC on behalf of miners based in Karnataka recently conducted an e-auction, in which it received only 7.4% bids, out of the total quantity put for auction.
Manganese ore demand is very low in the market owing to weak buying interest from Manganese alloy producers. Earlier this month, Manganese Ore India (MOIL) has cut prices of various grades by 10-25% for the quarter April-June, 2015. Prices have been cut on the backdrop of falling Manganese alloys prices in Indian and global market.
India’s state-owned trading company, MSTC, which had conducted the e-auction of Manganese ore in Karnataka on 17Apr’15, has fetched a mere total of 6 bids with producers from Maharashtra, Chhattisgarh, Andhra Pradesh & Karnataka being awarded the material.
There was increase in bids over floor value by 9.83%.Whereas, in the previous held e-auction on 10 Feb’15, there was no increase in floor value. This time about 40,167 MT of Manganese ore was put on auction, of which the bid quantity was only 2,967 MT.
The Manganese (Mn) content of the material offered ranges from 21-27% and Iron (Fe) content was in the range of 26-32%, according to information on MSTC’s website. ForMn – 27%; Fe – 26 to 28%, H1 (winning bids) was awarded at the same price as the floor price of INR 3,000/MT (USD 1.76/dmtu), including royalty and FDT.
Silico manganese prices were almost stable this month as inquires has started picking up. Silico manganese prices for week 16(20-26 Apr’15) were assessed at around INR 45,500-46,000/MT, ex-Raipur and INR 47,000/MT, ex-Durgapur.
Manganese Ore Price Comparison
| Particular |
Grade (Mn %) |
Prices in INR/MT |
Prices in USD/DMTU |
| Karnataka |
27 |
3,000 |
1.76 |
| Balaghat |
28-30 |
6,300 |
3.5 |
| Odisha |
28-30 |
6,000 |
3.3 |
| South African Carbonated Ore |
36-37 |
8,388 |
3.65 |
Source: SteelMint Research
Leave a Reply