MMTC Offers Imported Manganese Ore Ex-Vizag

Manganese ore market is trying hard to sustain at current levels amid poor demand. Since few months, the company received no bids in the tender offering UMK, South African grade manganese ore.

Metal & Mineral Trading Corporation (MMTC) has offered 10,000 MT Manganese ore of UMK, South African origin at Vizag Port. The material shall be lumps of size ranging between 6 to 75 mm and shall be sold against 100% advance payment.

Current offered price is INR 8,180/MT loaded into trucks and INR 8,230/MT loaded into wagons. These prices includes CVD of INR 1,680/MT. However, VAT/CST/other statutory levies are to be paid extra.

It should be noted that the company was not able to fetch bids in last few tenders offering UMK, South African origin manganese ore. On account of poor demand in market, the company was not able to get satisfactory bids.

Chemical Specification

Percentage: As per Discharge port analysis report
Source: SteelMint Research

Transportation shall be arranged by buyer and freight shall be payable by them. Also, they should inspect the cargo at Vizag Port before buying the material. The cargo is offered by M/s SGS South Africa Pvt. Ltd. Prices will be valid till 26 June’15.

Dwindling Demand of Manganese Ore in India

Demand for manganese ore continues to be sluggish on the back of poor demand for manganese alloys. The manganese ore market is still finding it difficult to sustain at current price levels. South African carbonated ore(36-37%) is being offered at USD 2.6/dmtu CIF India.

Manganese alloy producers are unwilling to take long positions on the ore unless there is clarity in the direction of manganese alloys market. Chinese demand for imported manganese ore has also been very low and this has resulted in big miners reducing their prices further to attract Indian buyers.

SteelMint assessed that manganese ore market is already under pressure, and if the lack of demand persists, prices of imported manganese ore are likely to come down further.