MOIL, India’s largest manganese ore miner has increased prices by up to 15% on the existing prices prevailing since 01.12.2020. This increase is attributed firstly, to increasing imported manganese ore prices and secondly, to rising manganese alloy prices in the domestic market.
Key Features:
- The prices of all Ferro grades of manganese ore having Manganese content Mn-37% and above has been increased by 10 % and all the other Ferro grades of Manganese Ore having Manganese below Mn-37% have been increased by 15 % on the prices prevailing since 01.12.2020.
- The prices of all SMGR grades (Mn-30% & Mn-25%) and all grades of Fines have been raised by 15% on the prices prevailing since 01.12.2020.
- The prices of all chemical grades of manganese ore has been raised by 10% on the prices prevailing since 01.12.2020.
- Total quantity offered is 281,674t, out of which 171065t is of Ferro grade and 49,755t of the silicomanganese grade.
MOIL has raised prices after the imported ore prices jumped in line with the container shortage and supply constraints in the market. Meanwhile, this is further supported by the increased silicomanganese prices in the domestic market. However, this increase was mainly because of increased carbonate ore prices but it was a solid ground for the domestic miner to increase their prices.
Outlook:
Even though the manganese ore prices have been increased substantially, it is highly unlikely that it would have any significant effect on the manganese alloys price as the increase was already made in line with the gradually increasing imported ore prices. There can be an increase in the quotations for a short while, but producers are unsure of its sustainability in an oversupplied market.
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