Indian imports of manganese ore rise by over 141% in Oct’16 as the Manganese Alloy market improved with better prices and demand.
Indian manganese ore imports stood at 204,827 MT in Oct’16 which increased by 141% M-o-M. In Sep’16 manganese ore import stood at 84,868 MT. Rising imports in October is a result of rising Manganese Alloy prices and expectations of Manganese Ore prices rising further in the seaborne market. Notably, Manganese Ore prices have doubled in last three months.
The maximum imports were from South Africa (66,066 MT) in Sep’16 followed by Australia (54,284 MT).
In FY17 (April-Oct’16) total imports have been recorded at 1,085,252 MT (1.08 MnT). In FY16 India imported around 2.2 MnT manganese ore.
Countrywise India’s Manganese Ore Import
| Country |
April’16 |
May’16 |
Jun’16 |
Jul’16 |
Aug’16 |
Sep’16 |
Oct’16 |
| South Africa |
1,08,109 |
87,020 |
85,930 |
96,326 |
83,198 |
52,308 |
66,066 |
| Australia |
72,184 |
51,845 |
27,056 |
20,512 |
20,792 |
31,046 |
54,284 |
| Gabon |
14,786 |
26,675 |
25,315 |
26,589 |
4,798 |
– |
30,705 |
| Malaysia |
15,700 |
2,617 |
17,004 |
– |
– |
– |
18,000 |
| Others |
692 |
5,522 |
50 |
1,180 |
1,660 |
1,514 |
35,771 |
| Grand Total |
2,11,470 |
1,73,679 |
1,55,355 |
1,44,607 |
1,10,447 |
84,868 |
2,04,827 |
Source: Custom Data
Indian Manganese Ore Prices Rise Sharply
MOIL has increased prices of various grades of manganese ore by 25-30% for October-December quarter effective from November 01, 2016. Indian manganese ore prices have been increasing on the backdrop of rising manganese ore prices in the seaborne market. It is to be noted that manganese ore prices in global market has been shooting up recently due to rising demand from China.
Private miners have also decided to raise their offers, in line with MOIL and soaring imported manganese ore prices.
Last heard Gabon Manganese Ore grade 44% was concluded at around USD 8 /DMTU CIF India for December delivery. 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 8.6 /DMTU CIF India for December shipment.
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