Prices of imported
Manganese Ore are still holding firm, although the Manganese Alloys market is
weak. However, if the situation persists, prices may soften from July, 2013
shipments. A lot also depends on the Chinese demand and the prices that the big
miners declare for July, 2013 shipments.
There is no
change in offers for Manganese Ore to India, as the big miners have maintained
the same price for June, 2013 shipment. Current offers for BHP 47% Grade is
USD 6.06/DMTU CIF India. However, all other offers for 44-48% grades vary from
5.85-6.10 DMTU at the moment. For lower grades 36-38% grade South African
material, the prices are between 5.50-5.60/DMTU CIF India.
Indian domestic Manganese Ore prices remained constant with persistent
supply constraints. MOIL is offering lumpy ores of grade 37.5% for Rs.
9600-10000 /MT and lumpy ores of grade 44% for Rs. 12600-13600 /MT. Prices of
lumpy ores in Balaghat stand at Rs. 6300 /MT for 28-30%, Rs. 8000/MT for
34-36%, and Rs. 12745 /MT for 42-44% grade. In Odisha lumpy ores of grade
32-34% is being offered at Rs. 8000 /MT, and Rs. 8500 /MT for 34-36% grade
material.
It is to be noted that Ferro Alloy producers based in the southern
states of India, have no option but to procure domestic ore from Balaghat as
there is no auction coming up in Karnataka. Although falling Ferro Alloys
prices is curtailing aggressive purchases.
Availability of Manganese Ore in the Indian market is quite low, as
domestic supplies are still restricted and inventories at the ports is also
reported to be low.
SteelMint assessed that the price of Manganese Ore should come down in
line with the tumbling Manganese Alloy market – as demand for Ferro Alloys from
Steel mills is known to be weak in the rainy season, and as the inventory at
the ports increase gradually – it will become much harder for traders to find
considerable market demand in the coming days.
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