Prices of imported manganese ore are under pressure as demand for manganese ore has again come down on the back of poor manganese alloys market in India. Chinese demand plays a dominant role in determining prices of manganese ore; and China no longer in the panic buy mode and has sufficient existing stocks at ports. Prices of imported manganese ore is expected to remain weak as demand has dented and the Indian manganese alloy producers are producing at low percentage of capacity . This has resulted in a sluggish manganese ore market. Looking, at the demand situation big miners have reduced their spot offers.
Australian manganese ore lumpy grade 46% price is down and is being offered at around USD 4 /dmtu CIF India. South-African 36-37% carbonated ore is being offered by at USD 3.5/dmtu. Gabon has also reduced its price, and is offering 44% grade manganese ore at USD 3.55/dmtu
Domestic Manganese Ore Market
The Indian steel market is facing continuous pressure and so is the manganese alloy market, resulting in the Indian manganese alloy producers to lose interest in procuring the raw material.
Manganese ore prices in Balaghat are unchanged as manganese producer’s report of very sluggish demand. “Domestic offers for manganese ore from Balaghat remain unchanged, although the demand is low in line with the lackluster market for manganese alloys. Low prices aren’t attracting buyers and there is no trading activity going on”, reported a miner source from Balaghat.
SteelMint assessed that the current offer in Balaghat for grade 30% is INR 5,500/MT; 40-42% is INR 9,500/MT; 44-46% is INR 10,500/MT and 46-48% is INR 11,500/MT. Prices mentioned are exclusive of taxes.
Mangilall Rungta mines in Odisha have lowered their offers, on ailing manganese alloy market in India. Current offers for grade 26-28% is at INR 5,750 from INR 7,250/MT; 28-30% is at INR 6,250/MT from INR 7,750/MT; 30-32% is at INR 6,750 from INR 8,250/MT and 32-34% is at INR 7,250 from INR 8,750/MT.
| Manganese Ore Price Comparison | |||
| Particular | Grade | Prices in INR/MT | Prices in USD/DMTU |
| Balaghat | 37% | 5,500 | 2.2 |
| 44-46% | 10,500 | 3.4 | |
| Odisha | 28-30% | 6,250 | 3.21 |
| 32-34% | 7,250 | 3.28 | |
| MOIL | 37.5% | 6,644 | 2.6 |
| 44% | 8,667 | 2.9 | |
| South Africa Carbonated Ore | 37-38% | 8,791 | 3.5 |
| Gabon | 44% | 10,462 | 3.55 |
| Australia | 46% | 12,324 | 4 |
Exchange Rate: USD 1 = 66.9
Source: SteelMint Research
Indian Manganese Alloy Market
The Indian ferro alloy market is currently down on continuous low demand. Weekly 60/14 silico manganese prices are at INR 47,500/MT (Ex-Durgapur) and INR 48,000/MT (Ex-Raipur). From last month silico manganese prices are down in Durgapur by INR 4,500/ MT and in Raipur by INR 5,000/MT. Ferro manganese 70% being offered at INR 50,000/MT (Ex-Durgapur) and INR 49,000/MT (Ex-Raipur).
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