Manganese Ore India (MOIL), the country’s largest and government owned manganese ore producer with an annual production of 11.5 lakh MT, has increased prices of various grades by around 20-25% for Q3 (Oct-Dec).
Prices have increased on the backdrop of rising manganese ore prices in the seaborne market. It is to be noted that manganese ore prices in global market has been shooting up recently due to rising demand from China.
Prices of all ferro grades of ore have increased by 25%. Whereas, manganese ore of all other grades have been increased by 20%, from the upward revision in Sep’16.
In Sep’16, MOIL had raised Manganese ore prices by upto 25% from the Q2 quarterly prices. Falling import of manganese ore and rising manganese alloy prices in the domestic market, had prompted the miner to increase its offer a month earlier.
| Particular | Grade | Q3 FY17 (Oct-Dec’16) | Q2 FY17 (Jul-Sep’16) | Q1 FY17 (Apr-Jun’16) |
| Ferro Grade | 48% Mn, 4.8% Fe Lumps | 16,423.00 | 10,510.00 | 11,678.00 |
| Ferro Grade | 37.5% Mn, 7.5% Fe, Lumps | 9,429.00 | 5,647.00 | 6,644.00 |
| Silico Grade | 30% Mn, 8% Fe, Lumps | 5,260.00 | 3,817.00 | 4,490.00 |
| Silico Grade | 25% Mn, 7% Fe, Lumps | 3,211.00 | 2,099.00 | 2,469.00 |
| Fines | 30% Mn, 6.5% Fe, Fines | 2,706.00 | 1,961.00 | 2,307.00 |
Prices in INR/MT
Prices are excluding royalty of 5% and other taxes.
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