India: Manganese Ore Imports Surged by 110% M-o-M in Sep'19 on Delayed Shipments
Manganese Ore imports increased by more than double in Sep'19 M-o-M in line with the delayed shipments. Normally, it takes about two months to receive a shipment post confirmation of the orders.
The shipments of August were booked in the month of June when the market of Manganese Alloys was stable and the ores were highly-priced. However, the alloy manufacturers have been facing trouble due to the downstream market since July; therefore, the shipments for August deliveries were delayed and were booked for September as the prices of Manganese Ore also dropped. Meanwhile, producers are waiting for a further drop in the ore prices to book any more cargoes.
SteelMint learned that the imports will be suffering for the next few months as the bookings were reduced after the market declined and Manganese alloy manufacturers are still reluctant to import as they are sitting on enough inventory of Ores for the near future, amid the decline in Alloy production level.
Imports were significantly high in the month of September, and the South African carbonate ores were the most imported ore with 44% of total imports. Imports from Gabon were delayed for September and therefore, the imports in the month of August remained nil. South Africa, Gabon, and Australia remained the top three exporters for Manganese Ore to India.
source: SteelMint
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