Indian manganese ore imports in Nov’15 stood at 150,000 MT and in Dec’15 was 175,746 MT.
India imported a total 175,746 MT in Dec’15 out of which 70,964 MT was imported from South Africa, 55,001 MT from Gabon and 33,340 MT from Australia, according to Custom data. Whereas, total of 1.12 MnT of manganese ore was imported by India in the months of Apr-Sep’15, according to DGFT (Director General Foreign Trade).
India’s imported manganese ore prices remained unchanged with sluggish demand and light transactions, tracking slack manganese alloy market.
Prices of manganese ore imported to India continued to remain stable. Market sources, however, reported of weak demand from manganese alloy producers, who have sufficient stocks. Australian manganese ore grade 46% is being offered at around USD 2.4/DMTU CIF India, South African manganese ore 44% (Fe-12%) is being offered at 2.2/DMTU CIF India and Gabon manganese ore 44% is being offered at 2.1/DMTU CIF India. South African 37-38% carbonated ore is being offered USD 1.95/DMTU CIF India.
Manganese ore market is expected to be stable and any possible rise in prices is unlikely unless manganese alloys prices picks up from the current levels, which could result in a rise in Manganese Alloys production and better demand for Manganese Ore. Chinese demand also plays a dominant role in determining prices of manganese ore. However demand from China is expected to be lackluster with sufficient stock at ports and upcoming Lunar New Year holidays.
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