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 10-15% for January-March quarter.
Prices have increased to match up with the 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 around 125% from its August prices. MOIL announced today revision of prices of different grades Manganese Ore, effective from January 01, 2017.
* Prices increased by 5% for electrolytic manganese dioxide
* Prices increased by 10% for all chemical grades ore
* Prices increased by 15% on all Silico Manganese grades ore (Mn 25-30%)
* Prices increased by 10% on all Ferro grades of ore
* Prices increased by 15% for all grades of fines
The prices have been increased on the prevailing prices since December 1, 2016.
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. 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 1,000-3,000/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 | Q4 FY17 (Jan- Mar) | 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 | 30531 | 27,755 | 21,350 | 16,423 | 10,510 | 11,678 |
| Ferro Grade | 37.5% Mn, 7.5% Fe, Lumps | 17529 | 15,935 | 12,258 | 9,429 | 5,647 | 6,644 |
| Silico Grade | 30% Mn, 8% Fe, Lumps | 9452 | 8,219 | 6,575 | 5,260 | 3,817 | 4,490 |
| Silico Grade | 25% Mn, 7% Fe, Lumps | 5771 | 5,018 | 4,014 | 3,211 | 2,099 | 2,469 |
| Fines | 30% Mn, 6.5% Fe, Fines | 4863 | 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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