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 all grades by 7.5% above the existing prices of Sep’17.
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 the global market have witnessed a steep increase due to rising demand and supply shortages.
MOIL has increased prices of various grades of manganese ore for the third quarter effective from October 01, 2017.
Previously, MOIL has decided against revision of its prices in Aug’17 and Sep’17.
| Domestic and Imported Manganese Ore Prices | |
| Grade | INR/MT |
| MOIL Mn 37.5%,Fe 7% | 13471 |
| MOIL Mn 44%,Fe 6% | 17932 |
| Lumps, Mn 38%, South Africa | 14084 |
| Lumps, Mn 44%, Fe 5%, Gabon | 18762 |
| Lumps, Mn 46%, Fe 5%, Australia | 20520 |
Imported Manganese Ore Market Outlook
Imported Manganese ore prices have continued to firm up as market participants said demand was coming into the market.
Higher seaborne offers were finding less resistance on the back of higher Manganese Alloy prices in China as well as rising manganese ore prices at the port.
Sources also reported that fewer cargoes were being offered from Gabon and South Africa due to dispatch issues.
Seaborne ore prices continued on an upward trend. Australian 46% lump was heard at around USD 6.8/dmtu, Gabon 44% ore at USD 6.5/dmtu and South African 36%-37% Carbonate ore at around USD 5.65/dmtu CIF India.
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