Manganese Ore offer prices have increased for October delivery, tracking Manganese Ore demand in China
Manganese Ore prices are firm in the international market due to improved demand of Silico Manganese in the Chinese domestic market which enables buyers to pay a better price for South African Carbonate Ore. The South African Semi Carbonate Ore is characterised as a cost effective Manganese Ore. Price for South African semi-carbonate Ore is around USD 4.1/DMTU for October, 2016 shipments, which is within end users’ acceptance and enjoys certain advantages over high grade manganese ore. Eramet, Gabon has also increased its price, and is offering 44% grade at USD 4.5/DMTU CIF India.
Price of Manganese Alloys is holding firm in India, despite the seasonal slowdown in consumption pattern during the rainy season. However, there is a some respite for stakeholders as volatility in the currency market has minimised. MOIL has increased prices of various grades by around 15-25% for Sept’16. MOIL is also strategically following the international prices and adjusting their price in line with international prices and the demand situation in India for the Ore. Stock levels of Manganese Ore is very low with Manganese Alloy producers in India and some furnaces are even operating at hand-to-mouth situation.
International prices of Manganese Ore are mainly driven by Chinese demand and it is expected to remain firm at least for the current month. SteelMint assessed that Silico Manganese prices typically set the direction for Manganese Ore prices.
Indain Manganese Ore Imports
The total manganese ore imports to India from Jan’16-May’16 was 1.12 MnT. Manganese ore (46% or more) was the most imported grade in Jan’16-Aug’16 with a total quantity of 346,585 MT and the least imported grade was Manganese ore (30% or more but below 35%) with a total quantity of 32,040 MT.
The total manganese ore imports in the month of Aug’16 was 101,473 MT which decreased by over 21.2% from Jul’16. The total imports in Jul’16 stood at 128,883 MT. Manganese ore (35% or more but below 40%) was most imported in Aug’16 with a total of 32,342 MT whereas in Jul’16 for this grade a total of 12,017 MT was imported. In Jul’16 a total quantity of 45,904 MT for Manganese ore (40% or more but below 44%) was imported whereas in Aug’16 for this grade 10,606 MT was imported. Manganese ore (30% or more but below 35%) was least imported in Aug’16 with a total quantity of 1036 MT whereas in Jul’16 there were no imports for this grade.
| Grade Wise Manganese Ore Imports | |||||||||
| Product | Jan’16 | Feb’16 | Mar’16 | Apr’16 | May’16 | Jun’16 | Jul’16 | Aug’16 | Total |
| Manganese ore (30% or more but below 35%) | 7022.02 | 0.00 | 0.00 | 6977.60 | 0.00 | 17003.64 | 0.00 | 1036.37 | 32039.63 |
| Manganese ore (35% or more but below 40%) | 49089.62 | 24277.68 | 22707.59 | 39627.60 | 54208.88 | 24941.05 | 12017.00 | 32341.86 | 259211.27 |
| Manganese ore (40% or more but below 44%) | 6241.38 | 12844.42 | 2177.34 | 35401.25 | 23624.25 | 20911.50 | 45904.38 | 10606.13 | 157710.64 |
| Manganese ore (44% or more but below 46%) | 40823.40 | 39478.58 | 34648.38 | 51530.94 | 30306.91 | 22407.09 | 15626.90 | 3800.00 | 238622.20 |
| Manganese ore (46% or more) | 35520.62 | 42940.87 | 36408.24 | 61632.26 | 61626.54 | 51334.30 | 27418.90 | 29703.74 | 346585.46 |
| Manganese ore(Other) | 138.70 | 0.00 | 0.00 | 16300.82 | 3912.43 | 18757.21 | 27915.34 | 23984.84 | 91009.34 |
| Total | 138835.74 | 119541.54 | 95941.54 | 211470.47 | 173679.02 | 155354.80 | 128882.51 | 101472.93 | 1125178.53 |
Source: SteelMint Research
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