India: Imported Manganese Ore Prices Go Down Despite Supply Shortage
Indian Manganese Alloys producers may experience hike in domestic Manganese Ore prices amid shortage in supply from the sea-borne trade. Indian buyers have witnessed a hindrance in imports of manganese Ore from South Africa in the previous month.
Therefore, the traders dealing with portside stocks may take advantage of the present scenario and raise the prices for Manganese Ore owing to Supply - Demand dynamics.
Prices for Australian Lumps, Mn 46%, Fe 5%, is unchanged at USD 7/dmtu CIF India. South African Carbonate Ore (Lumps, Mn 37-38%)are being offered at USD 6.05/dmtu CIF India and Manganese ore Lumps, Mn 44%, Fe 5%, Gabon is offered at USD 6.4/dmtu.All prices are for June loading.
Major miners of South Africa released their Export prices of Manganese Ore for China for June, and the prices were down as compared to the previous prices. Prices were lowered amid weak demand in China. As the Silico Manganese purchase price is continuously dropping low which makes the producers wary of buying Manganese Ore. Therefore South African Miners are lowering the prices for its major export market, China to entice buyers.
Indian Manganese Ore Imports in Q1 CY19
Indian Imports of Manganese Ore in the first quarter of CY19 stood at 0.64 MnT which is marginally higher as compared to Q1 of CY18. South Africa, Brazil and Cote D Ivoire remained the top three exporters to India with 64%, 11% and 8% share respectively. However, Indian imports from South Africa went down by 7.3% on Y-o-Y basis in Q1 CY19. Meanwhile, the imports were higher in Mar’19 as compared to Feb’19 by 82%. However, imports from Brazil and Cote D Ivoire fell on both M-o-M and Y-o-Y basis.
source: SteelMint
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