India: Manganese Ore Imports Down by 49% M-o-M in Nov’16

Indian imports of manganese ore fell by over 49% in Nov’16 on rising offers in the global market

Indian manganese ore imports stood at 104,067 MT in Nov’16 which fell by over 49% M-o-M. In Oct’16 manganese ore import stood at 204,827 MT. Falling imports is a result of rising manganese ore prices in seaborne market. Notably, imported Manganese Ore prices have tripled in last few months.

The maximum imports were from South Africa (77,742 MT) in Nov’16 followed by Gabon (21,515 MT).

In FY17 (April-Nov’16) total imports have been recorded at 1,189,320 MT (1.19 MnT). In FY16 India imported around 2.2 MnT manganese ore.

Country-wise India’s Manganese Ore Imports

Source: Custom Data

Manganese Ore Price Rally Continues

In the week gone by, Manganese Ore India (MOIL), had increased prices of various grades by upto 30% for Dec’16. MOIL generally fixes its prices on quarterly basis, but soaring sea-borne manganese ore prices, has prompted the miner to increase its offer on a monthly basis. It is to be noted that manganese ore prices in the global market have been shooting up recently due to rising demand from China.

Private miners have also decided to raise their offers, in line with MOIL and soaring imported manganese ore prices.

Last heard offer for South African carbonated ore of 37-38% Mn was at around USD 8.4 /DMTU CIF India for December loading. Australia has also increased its offers for high grade Manganese Ore to India substantially, and Australian Manganese Ore grade 46% is being offered at around USD 9.6 /DMTU CIF India for December shipment. Also, shipment from Australia is expected to be delayed by around 20 days, as the ships will head towards Malaysia first to discharge before turning towards India.