The price of seaborne Manganese Ore to India for high grade ore is still firm as there is no price reduction from big miners. Manganese Ore grade 47% is being offered at around USD 5.9 /DMTU CIF India. However, price for grade 36-37% South-African Carbonated Ore has come down, and is being offered by a bunch of miners in the range of USD 5 – 5.2 /DMTU CIF India. While there has been pressure on miners from China and India to cut prices, there has been no price reduction yet. “Manganese Ore is a sellers' market. When the miner is not willing to lower the price, buyers just have to pay at that price to get the cargo,” a Kolkata-based trader said. Manganese Ore prices are unlikely to uphold at current levels, as the weak rupee discourages imports coupled with the low demand for Manganese Alloys.
Domestic offers for Manganese Ore from Balaghat remain unchanged, although the demand is very low, and buyers seek material at much lower prices, with no deals having been concluded in the past week, reported a miner source from the region. Current prices at Balaghat are: Manganese Ore 28-30% = Rs. 5800/MT; 34-36% = Rs. 8500/MT; 40-42% = Rs. 11500/MT. Prices mentioned are inclusive of Royalty and Taxes. Manganese Alloy producers are awaiting the announcement by MOIL for its offer prices for the next quarter, expecting a definite price correction in sight of the current market scenario.
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