Global Manganese Ore offers to India continue to rise; market participants look forward to MOIL releasing its prices for the next quarter.
The price of seaborne Manganese Ore to India continues to rise as demand from China remains robust. It is highly possible for the Manganese Ore prices to increase further in the coming month. Gabon Manganese Ore grade 44% continues to be offered at around USD 4.5 /DMTU CIF India. However, price for grade 37-38% South-African Carbonated Ore has gone up, and is being offered at USD 4.2 /DMTU CIF India. Australia has also increased its offers for high grade Manganese Ore to India substantially, and Australian Manganese Ore grade 46% is being offered at around USD 4.95 /DMTU CIF India.
SteelMint assessed that as long as China continues to replenish its stock of Manganese Ore, the global miners will be able to keep increasing offer prices. For India, Manganese Ore is a sellers’ market, particularly when the Chinese demand is strong – Indian buyers just have to pay at a premium to get the cargo.
However, Indian Silico Manganese price is also firm, which has provided some support to the producers of the alloy.
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