Manganese Ore India (MOIL), the country’s largest and government owned manganese ore producer with an annual production of 11.5 lakh MT, has increased prices of various grades by around 25-30%.
Prices have increased on the backdrop of soaring manganese ore prices in the seaborne market. It is to be noted that manganese ore prices in global market have witnessed a steep increase due to rising demand from China and supply shortages.
MOIL has been continuously increasing prices of manganese ore from Sep’16, totalling to a cumulative increase of 110% from its August prices. MOIL announced today revision of prices of different grades Manganese Ore, effective from December 01, 2016
The price have been increased by 30% on the existing prices of all Ferro Grades of ore, while prices have been increased by 25% on all grades of Silico Manganese Grade (Mn 30%) and Silico Grade Low (Mn 25%) on the prevailing prices (revised in Nov’16).
Besides, the prices have been increased by 25% on all grades of Fines and by 10% of all chemical grades ore on the prevailing prices.
MOIL generally fixes its prices on quarterly basis, but Manganese Ore is in short-supply in the Indian market and Imported Manganese Ore prices have trippled during the year, and this has prompted the miner to increase its offer month-after-month after releasing its quarterly prices. Manganese ore prices have increased significantly, tracking strong Chinese demand.
Taking stock of the situation at hand, Odisha based Manganese Ore miners have also revised their offer prices upwards by INR 2,000/MT for various grades.
There is a major shortage of Manganese Ore supplies to India and most Indian Manganese Alloy producers will have to procure material from MOIL.
| Particular | Grade | December Prices | November Prices | Q3 FY17 (Oct-Dec’16) | Q2 FY17 (Jul-Sep’16) | Q1 FY17 (Apr-Jun’16) |
| Ferro Grade | 48% Mn, 4.8% Fe Lumps |
27,755 |
21,350 |
16,423 |
10,510 |
11,678 |
| Ferro Grade | 37.5% Mn, 7.5% Fe, Lumps |
15,935 |
12,258 |
9,429 |
5,647 |
6,644 |
| Silico Grade | 30% Mn, 8% Fe, Lumps |
8,219 |
6,575 |
5,260 |
3,817 |
4,490 |
| Silico Grade | 25% Mn, 7% Fe, Lumps |
5,018 |
4,014 |
3,211 |
2,099 |
2,469 |
| Fines |
30% Mn, 6.5% Fe, Fines |
4,229 |
3,383 |
2,706 |
1,961 |
2,307 |
Prices in INR/MT
Prices are excluding royalty of 5% and other taxes.
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