Imported Manganese Ore prices corrected upwards on the backdrop of rising Manganese alloys prices and rising demand for Ore.
An improved demand for Manganese Ore in India along with sky-rocketing Manganese Alloy prices in China and India have prompted the global Manganese Ore miners to raise their offers.
Offers of manganese alloys in China has been high due to low production in the region while it is in full swing in India where producers are trying to cope with rising demand. Being close to the port, Durgapur and Raipur based Manganese alloy producers mainly rely on imported Ores are getting affected.
SteelMint assessed imported Manganese ore offers at USD 6.5/dmtu for 37% South African Semi-Carbonate Ore, USD 6.85/dmtu for 44% ore from Gabon and USD 7.2/dmtu for 46% Australian Manganese Ore. All prices are CIF India basis, Jan’18 shipment.
Presently, the prices of imported Manganese Ore is mainly being driven by manganese alloy offers and it is expected to remain firm along with Silico Manganese prices.
Manganese Alloy Trend In India
Recently, Silico Manganese prices touched its 5-year high owing to increasing demand coupled with limited supply.
Low production in China has created a global shortage of the commodity and Indian have been observing increasing inquiries from overseas which supported its domestic offers as well. Silico Manganese prices witnessed an average increase of INR 6000/MT on M-o-M basis. Ferro Manganese offers also soared on the backdrop of Silico Manganese prices.
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