Domestic offers for Manganese Ore from Balaghat remain unchanged, although the demand is very low on account of slow market for Manganese Alloys, with little or no deals to be concluded, reported a miner from the region.
Current prices at Balaghat are: Manganese Ore 28-30% = Rs 5800/MT; 30-32% = Rs 7000/MT; 34-36% = Rs 8500/MT; 40-42% = Rs 11500/MT.
Prices mentioned are inclusive of Royalty and Taxes.
Private Manganese Ore miners from Balaghat are reluctant to cut prices, as it is the rainy season (cost of operations is higher during this time of the year), and stable international prices for Manganese Ore have also provided support to domestic prices.
The recently concluded Manganese Ore auction in Karanataka fetched low bids, with SAIL (Chhattisgarh) procuring most of the material offered at almost the floor price.
A Manganese Ore trader from Balaghat remarked, “It is not the price to concern at the moment, but the lack of demand for the Ore.”
He further revealed that only Karnataka buyers were inquiring for the material.
Meanwhile, most market participants are not expecting a price correction, as the Rupee has weakened further, making imports more expensive.
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