India: MOIL Reduces Manganese Ore Prices by Up to 25% for Nov’19

MOIL has declared Manganese Ore prices for the Nov’19, effective from 1st Nov 2019. Imported Manganese ore prices have been falling sharply and the fall in last week was up to 18%, which made the domestic prices costlier compared to the imported carbonate ores.

Thus, the pressure was building up in the domestic market. Manganese alloy prices have sunk with persistent low demand for the end-product. Therefore, many Manganese Alloy Producers have reduced their production levels. Ore Prices are also reduced in line with the reduction of prices in the international market. Prices of Manganese Ore from major producing countries like South Africa and Ghana reduced by significant levels due to low Chinese demand for ores and the overstocked material at the ports and falling value for the Chinese Yuan.

MOIL has fixed/revised prices of different grades of Manganese Ore, for 3rd Quarter 2019-20 (October-December’2019) effective from 01.10.2019.

Moil has reduced its prices of manganese ore for the month of November 2019 effective from 01.11.2019; details are as under:

The company has reduced its prices for Ferro Grade (Mn 37% & above) by 20%. The prices for Ferro Grade (Less than Mn 37%), SMGR (Mn30% & Mn25%) and Fines are reduced by 25% and Chemical grade ore prices are reduced by 10%.

The prices for all grades of manganese ore were earlier reduced by 5% for the qtr of Oct-Dec 2019.

On the future outlook, there is a possibility that the Silico Manganese prices may further go down in line with reduced prices by MOIL.