Manganese Ore offers from private miners in Balaghat witness an uptick due to limited production, as some mines are not operational at the moment. Although, demand for the material was flat in the past few weeks, prices for Manganese Alloys have been stable as miners refuse to sell Manganese Ore at lower prices. 

Private miners from Balaghat have raised offers, as the demand is steady and supply is constrained. Along with this MOIL had hiked prices by 5-10% across all product offerings for the October-December (Quarter-3). Also providing support to the higher offers from private mines in Balaghat are high prices of imported Manganese Ore and low availability of the material at the ports.

Current prices of Manganese Ore at Balaghat are 28-30%=INR 6,500 /MT; 30-32%= INR 7,000 /MT; 32-34%= INR 8,000 /MT; 34-36%=9,000 /MT; 36-38%= INR 10,000 /MT; 38-40%= INR 11,000 /MT; 40-42%=INR 12,000/MT. Domestic offers for Manganese Ore from Odisha are 32-34%= INR 8,000/MT; 34-36% = INR 8,500/MT. Prices mentioned above are Ex-Mines, including Royalty and excluding taxes. Price for South African Carbonate Ore grade 37-38% is USD 4.5/dmtu (INR 10,513 /MT).

Few mines of Manganese Ore are non-operational in Balaghat; with many market participants stalling production and have retreated on the sidelines till market conditions become favorable. A Manganese Ore trader from Balaghat remarked, “I am very confident that prices will be stable for the next few weeks as power tariff has risen to INR 5.70 /unit”. He further said that the rupee has stabilized and imported Manganese Ore are also providing support to domestic Manganese Ore prices.

SteelMint learnt from market sources that the total output of Manganese Alloys in the Indian domestic market will keep close to the current level and the demand may still stay at a low level.