MOIL cuts manganese ore prices by 15-25% of various grades for remainder of Q4, effective from 1 Mar’17.
Manganese Ore India (MOIL), the country’s largest and government owned manganese ore producer with an annual production of 11.5 lakh MT, has decreased prices of various grades by 15-25%, effective from March 1, 2017.
MOIL has made a downward revision in prices to match up with lower prices of Manganese Ore in the seaborne market, and falling Manganese Alloy prices. It is to be noted that manganese ore prices in global market have witnessed a sharp fall due to shrinking demand from China.
The Manganese Ore market is finding it difficult to sustain after months of soaring price levels, as the Manganese Alloy market is on a downtrend and producers are depicting reluctance in booking Manganese Ore.
MOIL has slashed prices for Ferro grades by 25%, Silico grades by 15% and fines prices are cut by 25%, on the existing prices prevailing since February 1, 2017.
| MOIL Manganese Ore Prices (in INR/MT) | ||||
| Particular | Grade | Mar’17 | Feb’17 | Jan’17 |
| Ferro Grade | 48% Mn, 4.8% Fe Lumps | 20609 | 27478 | 30531 |
| Ferro Grade | 37.5% Mn, 7.5% Fe, Lumps | 11832 | 15776 | 17529 |
| Silico Grade | 30% Mn, 8% Fe, Lumps | 6829 | 8034 | 9452 |
| Silico Grade | 25% Mn, 7% Fe, Lumps | 4169 | 4905 | 5771 |
| Fines | 30% Mn, 6.5% Fe, Fines | 3101 | 4134 | 4863 |
Imported Manganese Ore Prices Coming Down Sharply
International Manganese Ore prices have been tanking from the last two months as demand from China has fallen sharply. The Manganese Ore market is still finding it difficult to sustain at current price levels, although most market participants believe that the manganese ore prices are close to the bottom. Australian high grade Manganese Ore is the worst affected during this down trend. Australian Manganese Ore grade 46% is being offered at around USD 5/ DMTU CIF India for Mar’17 loading. The same was being offered at USD 9.6/DMTU at the beginning of 2017. Demand from India for imported ore remains stable and the current prices are at acceptable levels for the Indian smelters.
South African Semi-Carbonated Manganese Ore prices have also been moving down sharply and is being offered at USD 3.25/ DMTU CIF Indian Ports, being most in demand especially by Silico Manganese producers. International Manganese Ore prices are expected to be stable for the near future as downside seems limited and upside depends upon the Chinese demand – which is low at the moment.
Leave a Reply