Heavy rain in Odisha & Maharashtra has resulted in low availability of Manganese ore and promoted Orissa Manganese & Minerals Limited (OMML) to increase their offer.
Private Manganese ore miner, Orissa Manganese & Minerals Limited (OMML), a subsidiary of Adhunik Metaliks has increased Manganese ore prices for 24-34 grade by INR 250/MT and 34+ grades by INR 500/MT w.e.f today (5 Mar, 2014). OMML has an annual production of about 0.2 MnT and contributes 9% of the country’s overall Manganese ore production.
When questioned regarding the rise in prices, a senior official from OMML remarked, “Ore procured from Odisha is still cost-effective, as compared to imported ore and Balaghat sector ore (MOIL & Private miners) for Silico Manganese & Ferro Manganese producers in Eastern India.”
He further highlighted, “There is growing uncertainty on the arrival of monsoons in India this year and we are experiencing pre-monsoon bookings as a result.”
Private miners in Balaghat keep offers firm in the market owing to healthy demand. Demand for Indian Manganese ore is good and prices of Manganese alloys have also improved. Hence, the Manganese ore prices are holding firm and there is a little possibility for major price fluctuation. Market sources reported of steady demand in the domestic market along with supply tightness.
SteelMint assessed that Indian Manganese alloy market is stable with resilient demand since the last few months and prices are expected to remain firm.
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