MMTC had invited interested overseas buyers for the purchase of 50,000 MT Manganese ore fines (Mn: 24/22%) of Indian origin through its export tender for June shipment.
The material had been offered by S.K. Sarawagi & Co, Vizag Port basis. The date for submission of the tender was 24 May’16.
However, the company has decided to cancel the tender due to no bids.
Indian Manganese Ore Production and Imports in FY16
Production in FY16 was assessed at 2 MnT against 2.24 MnT in FY15, with a fall of over 10%. Production in FY16 was low as demand was less because of the oversupply, because there are lots of inventory of ferro alloys as well as the manganese ore.
Manganese Ore imports also noticed a sharp fall of 30%, in FY16. 2.2 MnT ore was imported against 3.1 MnT in FY15. With China’s slowdown, there was lot of materials shipped towards India. And imports were cheaper and there was plenty available material.
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