MOIL Raises Manganese Ore Prices for Q4 (Jan-Mar) by Up to 15%
MOIL has declared Manganese Ore prices for the first quarter of CY20. Prices of Manganese Ore has been rebounding for the past few weeks. This can largely be attributed to the Manganese ore supplies from South Africa and Gabon decreased as the small miners shut down their mines when the prices hit below USD 4/dmtu. Manganese ores availability is an issue from Zambia and Brazil due to rainy season there and this has created a cascading effect and a Manganese Ore shortage in the domestic market was experienced which in line pulled the Manganese ore prices for the first quarter.
Meanwhile, the prices for Steel commodities and Manganese alloys have been experiencing a positive trend for the past two weeks.
MOIL has fixed/revised prices of different grades of Manganese Ore and other products, effective from 01 January 2020 as under –
1. The prices of all grades of manganese ore having Mn-44% and above have been increased by around 7.5 % and all the other Ferro grades of Manganese Ore having Manganese below 44% have been increased by around 10 % on the prices prevailing as on 31.12.2019.
2. The prices of SMGR grades (Mn-30% & Mn-25%) and all grades of Fines (except Balaghat Fines) have been increased by around 15 % and the price of Balaghat Fines have been increased by 10% on the prices prevailing as on 31.12.2019.
3. The prices of all grades of Chemical have been increased by around 10% on the prices prevailing as on 31.12.2019.
4. The basic price of Electrolytic Manganese Di-oxide (EMD) has been increased by around 5% on the prices prevailing as on 31.12.2019.
5. Ferro Manganese/Ferro Manganese Slag and some identified grades of Manganese Ore will continue to be sold by e-auction as well as through Metal Mandi (M3) of MSTC, in line with the existing price.
On the future outlook, there is a possibility that the Silico Manganese prices may further go up marginally in line with the increased MOIL prices.
source: SteelMint
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