Manganese Ore India Ltd (MOIL) generally fixes its prices on quarterly basis. But, the constant fluctuation in global manganese ore prices was forcing MOIL to revise offer prices month-after-month. However, in May’17 MOIL has not gone for a revision of prices after earlier releasing its quarterly prices for Q1 (April-June).
MOIL is the single largest producer of manganese ore in the country with an annual production of 1.1 MnT.
State-run MOIL is set to enhance production of manganese ore up to 2.5 million tonnes by FY21.
MOIL operates about 10 mines – six in Maharashtra and four in Madhya Pradesh.
| Domestic and Imported Manganese Ore Price Comparison | ||
| Grade | INR/MT | USD/dmtu |
| MOIL Mn 37.5%, Fe 7% | 11,832 | 4.9 |
| MOIL Mn 44%, Fe 6% | 16,613 | 5.8 |
| Lumps, Mn 38%, South Africa | 11,115 | 4.5 |
| Lumps, Mn 44%, Fe 5%, Gabon | 14,872 | 5.2 |
| Lumps, Mn 46%, Fe 5%, Australia | 17,342 | 5.8 |
Imported Manganese Ore offers are also fairly stable on account of a slowdown in Chinese demand. Chinese demand for Manganese Ore has also come down as the Chinese Steel market is slack and so is the Ferro Alloy market, resulting in the Manganese Alloy producers to lose interest in procuring the raw material.
MOIL has take into account imported Manganese Ore prices, as West Bengal and Andra Pradesh, two of the major Manganese Alloy producing states, mostly depend on imported ore. Due to proximity to the ports, these two states are able to import high grade ore and export the Alloy.
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