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 15-25% for Sept’16.
Prices have increased on the backdrop of rising manganese ore prices in seaborne market. It is to be noted that manganese ore prices in global market have increased due to rising demand from China.
Prices of all ferro grades (above 46%) of ore have increased by 25%, ferro grades less than 46% by 20% and silico grade by 15%. While, manganese ore fines prices have increased by 15% from previous quarter’s prices.
MOIL generally fixes its prices on quarterly basis, but falling import of manganese ore and rising ferro alloy prices in domestic market, has prompted the miner to increase its offer a month earlier.
MOIL Manganese ore price comparison in Sep’16, Q1 FY17 & Q2 FY17
| Particular | Grade | Sept’16 | Q2 FY17 (Jul-Sep’16) | Q1 FY17 (Apr-Jun’16) |
| Ferro Grade | 48% Mn, 4.8% Fe Lumps | 13,137.5 | 10,510.0 | 11,678.0 |
| Ferro Grade | 37.5% Mn, 7.5% Fe, Lumps | 6,776.4 | 5,647.0 | 6,644.0 |
| Silico Grade | 30% Mn, 8% Fe, Lumps | 4,389.6 | 3,817.0 | 4,490.0 |
| Silico Grade | 25% Mn, 7% Fe, Lumps | 2,413.9 | 2,099.0 | 2,469.0 |
| Fines | 30% Mn, 6.5% Fe, Fines | 2,255.2 | 1,961.0 | 2,307.0 |
Prices in INR/MT
Prices are excluding royalty of 5% and other taxes.
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