India's state-owned trading company MSTC, which had conducted the e-acution of manganese ore in Karnataka has fetched much higher bids than expected despite a tumbling market Ferro Alloy market.
About 5,500 tonnes of Manganese Ore was put on auction out of which 4400 tonnes was auctioned from SMIORE and rest was auctioned from Kurmarswany mining company in Bellary. The manganese content of the material offered ranges from 28-30% and 32-34%, according to information on MSTC's website.
Lot 001: Qnty. 496 (+ /- 5%) Manganese Ore at SMIORE
Mn% Range= 32 to 34 ; Fe% Range= 19 to 22
H1 – Padmavati Ferrous Ltd at a booking price of Rs. 7100/MT
Lot 002: Qnty. 496 (+ /- 5%) Manganese Ore at SMIORE
Mn% Range= 32 to 34 ; Fe% Range= 19 to 22
H1 – Sesa Goa Limited at a booking price of Rs. 8200/MT
Lot 003: Qnty. 496 (+ /- 5%) Manganese Ore at SMIORE
Mn% Range= 30 to 32; Fe% Range= 20 to 24
H1 – Konkan Minerals Private Ltd. At a booking price of Rs. 8260/MT
Lot 004: Qnty. 496 (+ /- 5%) Manganese Ore at SMIORE
Mn% Range= 30 to 32; Fe% Range= 20 to 24
H1 – Maithan Alloys Limited at a booking price of Rs. 7000/MT
Lot 005: Qnty. 496 (+ /- 5%) Manganese Ore at SMIORE
Mn% Range= 30 to 32; Fe% Range= 20 to 24
H1– Sesa Goa Limited at a booking price of Rs. 8790/MT
Lot 006: Qnty. 496 (+ /- 5%) Manganese Ore at SMIORE
Mn% Range= 30 to 32; Fe% Range= 20 to 24
H1 – Maithan Alloys Limited at a booking price of Rs. 8800/MT
Lot 007: Qnty. 496 (+ /- 5%) Manganese Ore at SMIORE
Mn% Range= 28 to 30; Fe% Range= 21 to 25
H1 – SBQ Steels Ltd. at a booking price of Rs. 8200/MT
Lot 008: Qnty. 496 (+ /- 5%) Manganese Ore at SMIORE
Mn% Range= 30 to 32; Fe% Range= 20 to 24
H1 – Raghavendra Ferro Alloys Pvt. Ltd. at a booking price of Rs.7200/MT
Lot 072: Qnty. 496 (+ /- 5%) Manganese Ore at SMIORE
Mn% Range= 30 to 32; Fe% Range= 20 to 24
H1 – Shree Radhey Krupa Concasti Ltd. at a booking price of Rs. 6110/MT
Lot Mn/IL: Qnty. 992 (+ /- 5%)in lots of 496 MT, Manganese Ore Lumps at Kumaraswamy Mining Company
Mn% Range= 30 to 32; Fe% Range=10 to 16
H1 – Sona Alloys Pvt. Ltd. at a booking price of Rs. 5500/MT
SteelMint assessed that the high bids were mainly due to the poor availability of Manganese Ore in India. Manganese Ore from Odisha is restricted and imported Manganese Ore imports to India is also below the desired level as South African miners prefer to ship most of its Manganese Ore to China, leaving Manganese Alloy producers with Export orders no option but to bid at higher levels in the Karnataka auctions to secure low-grade Ore
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