MOIL cuts manganese ore prices by 3-12% of various grades for Q2.
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 around 3-12% for the quarter July-Sept’15. Prices have been cut on backdrop of falling manganese alloys prices in Indian and global markets. Last quarter MOIL had cut prices by 25%.
The prices of all ferro grades of ore have been reduced by 3-7.5%, silico grade prices have been reduced by 12.5% while the prices of manganese ore fines have been reduced by 5% from previous quarter’s prices.
MOIL Manganese Ore Prices (in INR/MT)
|
Particular |
Grade/Size |
July-September’15 |
Apr-June’15 |
%Change |
| Ferro Grade |
48% Mn, 4.8% Fe Lumps |
9,992 (USD 3.2/dmtu) |
10,301 |
3% |
| Ferro Grade |
37.5% Mn, 7.5% Fe, Lumps |
6,644 (USD2.7/dmtu) |
7,183 |
7% |
| Silico Grade |
30% Mn, 8% Fe, Lumps |
4,645 (USD 2.4/dmtu) |
5,309 |
12.5% |
| Silico Grade |
25% Mn, 7% Fe, Lumps |
2,798 (USD 1.7/dmtu) |
3,191 |
12.3% |
| Fines |
30% Mn, 6.5% Fe, Fines |
2,453 (USD 1.2/dmtu) |
2,582 |
5% |
Prices excluding royalty of 5% and other taxes
Exchange Rate: USD 1 = INR 63.4
SteelMint Research
Other private miners in Balaghat are yet to take a call. Last offers were at
30 Mn+ = INR 5,750/MT
34-36 Mn = INR 6,750/MT
44 Mn + = INR 9,370/MT
(All prices inclusive royalty)
Imported Manganese Ore
Imported manganese ore demand from manganese alloy producers is low. Chinese demand plays a dominant role in determining prices of imported manganese ore; however, demand from China is also lackluster.
South African carbonated ore (36-37%) is being offered at USD 2.7/dmtu CIF India. The offer price for Australian 46% lumps is aroundUSD 3.1/dmtu CIF India.
SteelMint assessed that imported manganese ore prices might be stable in near future, subject to demand of ore from India and China, and manganese alloy prices.
Indian Manganese Alloy Market Sluggish
MOIL Ltd. has reduced prices for the 2nd quarter due to low offtake of its material and limp market conditions of manganese alloys industry.
Current silico manganese (60-14) prices are assessed at INR 46,500-47,500/MT on ex- works basis and ferro manganese (70%) prices are assessed at INR 47,500-48,000/MT on Ex- Works basis.
Indian manufacturers believe that MOIL’s new prices will have little impact on current manganese alloy prices, as they are already facing cost pressures due to increase in power tariff.
Leave a Reply