MOIL cuts manganese ore prices by 3-10% of various grades for Q3.
Manganese Ore India (MOIL), the country’s largest and government owned, manganese ore producer with an annual production of 1.15 MnT, has cut prices of various grades by 3-10% for the quarter Oct-Dec, 2015. Prices have been cut on back drop of falling Manganese alloys prices in Indian and global market. Last quarter MOIL had cut prices by 3-12%.
The prices of all Ferro Grades of ore (expect Fines) have been reduced by 3% , Silico grade prices have been reduced by 5-10% while the prices of Manganese Ore Fines have been reduced by 5% on the previous quarter price.
MOIL Manganese Ore Prices (in INR/MT)
| Particular | Grade/Size | Oct-Dec’15 | July-Sep’15 | %Change |
| Ferro Grade | 48% Mn, 4.8% Fe Lumps | 9,692 (USD 3.1/dmtu) | 9,992 (USD 3.2/dmtu) | 3% |
| Ferro Grade | 37.5% Mn, 7.5% Fe, Lumps | 6,445 (USD 2.6/dmtu) | 6,644 (USD2.7/dmtu) | 3% |
| Silico Grade | 30% Mn, 8% Fe, Lumps | 4,377 (USD 2.2/dmtu) | 4,863 (USD 2.6/dmtu) | 10% |
| Silico Grade | 25% Mn, 7% Fe, Lumps | 2,652 (USD 1.6/dmtu) | 2,792 (USD 1.8/dmtu) | 5% |
| Fines | 30% Mn, 6.5% Fe, Fines | 2,330 (USD 1.2/dmtu) | 2,453 (USD 1.2/dmtu) | 5% |
Prices excluding royalty of 5% and other taxes
Exchange Rate: USD 1 = INR 65.2
SteelMint Research
Other private miners in Balaghat are yet to take a call. Last offers were at
30-32 Mn+ = INR 5,000/MT (USD 2.5/dmtu)
34-36 Mn = INR 6,000/MT (USD 2.6/dmtu)
42-44 Mn + = INR 8,000/MT (USD 3/dmtu)
(All prices inclusive royalty)
Indian Manganese Alloy prices down by up to INR 4,000/MT (USD 61) in last 3-months
Indian Silico manganese prices have corrected by INR 2,000/MT in Durgapur and INR 1,500/MT in Raipur in last 3 months owing to weak demand in domestic and export market. Current Silico manganese (60-14) prices are assessed at INR 45,000-45,500/MT on ex- works basis. Indian ferro manganese prices have corrected by INR 3,500/MT in Durgapur and INR 4,000/MT in Raipur. Current Ferro Manganese (70%) prices are assessed at INR 44,000-44500/MT on Ex- Work’s basis.
Imported Manganese Ore Market Remains Weak
Prices of imported manganese ore are under pressure on the back of poor demand for manganese alloys. Chinese demand for imported manganese ore has also come down sharply and many Indian ferro alloy plants are operating at very low capacity utilizations.
Australian manganese ore grade 46% is being offered at around USD 3.1 /dmtu CIF India (INR 9,300/MT). Price for 36-37% South-African carbonated ore has come down, and is being offered at USD 2.5/dmtu CIF (INR 5,951/MT). Gabon has also reduced its price, and is offering 44% grade at USD 2.9/dmtu CIF India (INR 8,322/MT).
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