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.
source: SteelMint
Top News
Six last month
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iron ore price flirts with key $100/t level on firm demand, China stimulus hopes
Hedge funds slash bullish wagers on gold over Trump election win
Gold loses some luster after Trump’s decisive win
Resolute Mining says it will pay Mali $160 million in tax dispute
Russia takes aim at US nuclear power by throttling uranium
Aluminum price to average 6% higher in 2024 on strong demand: Fitch
BHP to spend up to $14 billion on Chilean copper expansion
Trump chooses oil fracking boss as energy secretary
Marimaca Copper eyes ASX dual listing to boost Chile project
Osisko Development surges on permitting milestone for Cariboo gold project
Earth AI, Legacy Minerals make first greenfield palladium discovery using artificial intelligence
Mexico’s proposed higher mining royalties could block nearly $7bn in investments
Sierra Leone woos miners to clean energy with $11 billion plan
Alrosa plans production cuts and staff reduction for 2025
Chile’s rare salt flat fish face threat from lithium mining project
Endeavour Silver raises $73m for Pitarrilla project
BHP to spend up to $14 billion on Chilean copper expansion
Chile’s rare salt flat fish faces threat from lithium mining project
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Marimaca Copper eyes ASX dual listing to boost Chile project
Osisko Development surges on permitting milestone for Cariboo gold project
Earth AI, Legacy Minerals make first greenfield palladium discovery using artificial intelligence
Mexico’s proposed higher mining royalties could block nearly $7bn in investments
Sierra Leone woos miners to clean energy with $11 billion plan
Alrosa plans production cuts and staff reduction for 2025
Chile’s rare salt flat fish face threat from lithium mining project