Current International Manganese Ore offers are holding firm due to rise in demand from China, as the Chinese Manganese Alloys market is also moving steadily.
BHP has increased their prices for 46% Lumpy Ore from USD 5.30/DMTU last month to 5.50/DMTU CIF India for December Shipments. South Africa Semi-Carbonate Ore is also firm and holding at USD 4.50-4.55/DMTU up from 4.20/DMTU last month. Stock levels of Manganese Ore are very low with the Indian smelters and industry is struggling to find a balance between Manganese Ore prices and Ferro Alloy finished product. Manganese Alloy domestic prices are more or less stable since last two month and international offers are changing with the currency deviations.
It’s very seldom that Indian Ferro Alloy industry seems united to tackle the price war among Indian exporters and manufacturers. It’s a very good sign that market players are having a meeting every month or so to meet and take a decision in terms of pricing of different grades of Manganese Alloys which has seen a drastic impact on the FOB prices and helped domestic Industry in terms of better price realizations. India plays a major role in the International prices of Manganese Alloys and it will remain as a major supplier and is able to achieve better price realization for its product. At present, Indian offers are USD 880-890 for 60-14 grade SiMn and USD 1000 for 65/15 grade SiMn.
International Manganese Ore offers are expected to remain firm with less material offered in the market. At the same time everyone is adopting a cautious approach and reluctantly taking even small positions, as the Rupee tumbles again.
The overall sentiment is positive at the moment and the industry does not expect a sudden or major downfall from the current situation.
| Global Manganese Ore prices (in USD/DMTU) as on 11 Nov, 2013 |
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| Load Country | Grade | Delivery | Price | M-O-M |
| BRAZIL | 44% Lumps | CNF East-Coast, India | USD 4.9/dmtu | – 0.1 |
| SOUTH AFRICA | 38% Lumps | CNF East-Coast, India | USD 4.5/dmtu | + 0.5 |
| SOUTH AFRICA | 44% Lumps | CNF East-Coast, India | USD 5.2/dmtu | + 0.2 |
| AUSTRALIA | 46% Lumps, Fe 5% | CNF East-Coast, India | USD 5.5/dmtu | + 0.5 |
| GABON | 44% Lumps, Fe 5% | CNF East-Coast, India | USD 5.2/dmtuu | + 0.2 |
| TURKEY | 40-42% Lumps | CNF East-Coast, India | USD 5/dmtu | 0 |
| AUSTRALIA | 48% Particle, Fe 5% | CNF East-Coast, India | USD 5.3/dmtu | + 0.3 |
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