India: MOIL Lowers Manganese Ore Prices for Remainder of Q1

MOIL Lowers Manganese Ore prices by 15% over the prevailing prices since Apr’18 for Ferro Grade, Silico Manganese grade and Fines.

Manganese Ore India (MOIL), the country’s largest and government-owned manganese ore producer with an annual production of 11.5 lakh MT, has reduced prices of various grades by upto 15% for the remainder of quarter Apr-Jun’18. Prices have been lowered in line with global manganese ore prices.

Prices have been slashed on the backdrop of falling manganese ore prices in the seaborne market. It is to be noted that manganese ore prices in the global market have witnessed a downward correction due to low demand from China.

The prices for manganese alloys in China have lately witnessed a fall in prices due to lack of demand. Moreover, this has caused piling up of Manganese ore stock at Chinese ports, which has in turn created further selling pressure on manganese ore traders leading to Manganese Ore prices witnessing a constant decline.

MOIL has fixed/revised prices of different grades of Manganese Ore, effective from 01.05.2018 as under.

(1) The prices of Ferro Grade, SMGR (Mn 30% & Mn 25%) and Fines have been decreased by about 15 %.

(2) The prices of Chemical grades of Ore have been reduced by about 7.5%.