Indian Manganese Ore Imports in FY15 and FY16 (Apr-Nov)

Indian manganese ore imports in FY 15 was 2,984,489 MT and in FY16 (Apr-Nov) stood at 1,414,108 MT.

India imported a total of 2,984,489 MT in FY15 out of which 1,971,143 MT was imported from South Africa, 720,033 MT from Australia and 208, 322 MT from Gabon, according to DGFT (Director General Foreign Trade).

In FY16 (Apr-Nov) India imported a total of 1,414,108 MT out of which 782,828 MT was imported from South Africa, 334,664 MT from Australia and 262,316 MT from Gabon, according to DGFT.

In FY15, Mn 35-40% was the most imported grade, with a total quantity 1,429,464 MT and in FY16 (Apr-Nov) 553,404 MT was imported for the similar grade. Mn 46% and above had a total imports of 892,093 MT in FY15 and 390,422 MT has been imported in FY16 (Apr-Nov).

Chinese demand also plays a dominant role in determining prices of manganese ore. But demand from China has been lackluster with sufficient stock at ports. This prompted international miners to offer manganese ore at very lower prices to the Indian market. As a result, Indian manganese alloy producers preferred imported ore over domestic ore.

Manganese Ore India (MOIL), the country’s largest and government owned, manganese ore producer with an annual production of 1.15 MnT also experienced low offtake and rising inventories of manganese ore, prompting MOIL to cut prices consistently. Also, imported manganese ore prices have been consistently tumbling, and this exerted further pressure on MOIL in readjusting its prices aggressively.

Indian Manganese Alloy Market

Indian manganese alloy market has been on downtrend tracking a poor steel market. Hence, Manganese ore prices have been under pressure as demand for manganese ore continues to be sluggish on the back of poor demand for manganese alloys.

Indian silico manganese grade 60/14 prices in April (Week 15 (06 Apr – 12 Apr) was at INR 45,500-46,000/ MT (Ex Raipur) and INR 47,500/MT (Ex Durgapur). Currently, grade 60/14 prices are at around INR 40,000 (Ex-Raipur and Ex-Durgapur). Indian ferro manganese grade 70%Mn prices in April (Week 15 (06 Apr – 12 Apr) was INR 46,000/MT (Ex-Raipur) and INR 47,000 (Ex-Durgapur). Currently, grade 70% Mn is settled at INR 39,000/MT (Ex-Raipur) and INR 38,000/MT (Ex-Durgapur).

Indian Manganese Ore Imports

Quantity in MT
Source: DGFT