Manganese ore market has been generally steady for the past one month or two. Currently, most buy-side participants are holding back due to lack of visibility over future price direction.
Private miners in Balaghat have kept their offers unchanged on stable end-user demand. Also, Manganese Ore India Ltd (MOIL) is about to set new prices for the next-quarter. In the domestic market, there is availability of low quality Manganese ore and so most end-users prefer imported ore of better quality.
[su_quote]A private miner from Balaghat stated, “I expect prices will not change much in the next-quarter as Manganese ore demand will be visibly less. It’s only after election I suppose there would be sharp increase in prices.”[/su_quote]
In Odisha, private miners have kept prices unaltered. Earlier, private Manganese ore miner, Orissa Manganese & Minerals Limited (OMML), a subsidiary of Adhunik Metaliks had increased Manganese ore prices for 24-34 grade by INR 250/MT and 34+ grades by INR 500/MT .
Market sources are predicting that it is unlikely that there will be changes in price for low grade material in the next quarter; only the high grade Manganese ore could increase marginally. SteelMint assessed that Indian Manganese alloy market to remain stable in the near-future.
Comparison between Manganese Ore Prices across India
|
Particular |
Grade |
Price (INR/MT) |
Price (USD/DMTU) |
|
Odisha |
28-30% |
7,500 |
4.2 |
|
42-44% |
14,000 |
5.6 |
|
|
MOIL |
30% |
7,313 |
4.0 |
|
47% |
14,510 |
5.1 |
|
|
Balaghat |
28-30% |
6,600 |
3.7 |
|
42-44% |
13,500 |
5.4 |
|
|
South African Carbonate Ore(CIF India) |
37% |
10,467 |
4.7 |
|
Gabom |
44% |
13,771 |
5.2 |
|
Australia(CIF India) |
46% |
15,228 |
5.5 |
Exchange Rate: USD 1 = INR 60.19
Leave a Reply