According to sources, MOIL cuts manganese ore prices by 8-12% of various grades for Q4.
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 8-12% for the quarter Jan-March ’16, with an additional discount of 10% for Jan’16 lifting. Prices have been cut on back drop of falling Manganese alloys prices in Indian and global market. Last quarter MOIL had cut prices by 3-10% for quarter October-December, but in Nov’15 due to poor offtake MOIL again further cut quarter prices by 5-15%.
Indian Manganese Alloy prices down by up to INR 6,250/MT (USD 94/MT) in last 3-months
Indian Silico manganese prices have corrected by INR 5,500/MT in Durgapur and INR 6,250/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 38750-39500/MT on ex- works basis. Indian ferro manganese prices have corrected by INR 5000/MT in Durgapur and INR 4,500/MT in Raipur. Current Ferro Manganese (70%) prices are assessed at INR 39,500MT on Ex- Work’s basis.
| MOIL Quaterly Price Comparison | ||||
| Particular | Grade/Size | Apr-Jun’15 | Jul-Sep’15 | Oct-Dec’15 |
| Ferro Grade | 48% Mn, 4.8% Fe Lumps | 10,301 | 9,992 | 9,692 |
| Silico Grade | 30% Mn, 8% Fe, Lumps | 5,309 | 4,645 | 4,377 |
Prices in INR/MT
Source: SteelMint Research
Exchange Rate: USD 1 = INR 66.6
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