India: MOIL Increases Manganese Ore Prices , sets Production Target of 25 MnT by 2025
Manganese Ore India Ltd (MOIL), a Mini Ratna Schedule-A CPSE, under the administrative control of the Ministry of Steel, is the largest producer of manganese ore in the country
MOIL contributes to 50% of the total production and holds 34% of the Manganese Ore reserves. MOIL has achieved the highest-ever production of 13 MnT during financial year 2018-19, registering a growth of 9% over the previous year.
MOIL has declared prices for the next quarter, effective from 1st April 2019. Ferro grade prices up by 5% in line with the raising global prices, whereas other grades have been kept constant.
Imported Manganese Ore prices for Australian Lumps, Mn 46%, Fe 5%, increased to USD 7.2/dmtu CNF India. South African Carbonate Ore (Lumps, Mn 37-38%) are being quoted at USD 6.3/dmtu CNF India and Manganese ore Lumps, Mn 44%, Fe 5%, Gabon is offered at USD 6.6/dmtu for April deliveries.
MOIL has fixed/revised prices of different grades of Manganese Ore and other products, effective from 01.04.2019 as under:
1.The prices of Ferro Grade and Chemical grade have been increased by about 5% on the prices prevailing since 01.03.2019, while prevailing prices of Silico Manganese Grade (SMGR 25% & SMGR 30%) and Fines have remained unchanged.
2.Price discount of 10% on the prices effective from 01.03.2019 and also the existing bulk quantity discount ranging from 5% to 20% on the select grades of non-moving low grade manganese ore have been withdrawn.
3.The basic price of Electrolytic Manganese Dioxide (EMD) has been increased by Rs.5,000 PMT on the existing price prevailing since 01.01.2019.
4. Ferro Manganese/ Ferro Manganese Slag and some identified grades of Manganese Ore will continue to be sold on e-auction basis as well as through Metal Mandi (M3) of MSTC.
source: SteelMint
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