India: Imported Manganese Ore Prices Increase
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| Domestic and Imported Manganese Ore Price Comparison | ||
| Grade | INR/MT | USD/dmtu |
| MOIL Mn 37.5%, Fe 7% | 11,832 | 4.9 |
| MOIL Mn 44%, Fe 6% | 16,613 | 5.8 |
| Lumps, Mn 38%, South Africa | 12,844 | 5.2 |
| Lumps, Mn 44%, Fe 5%, Gabon | 17,017 | 5.95 |
| Lumps, Mn 46%, Fe 5%, Australia | 18,239 | 6.1 |
Imported Manganese Ore prices have increased further as Port prices in China for manganese ore have remained firm.
The South African Carbonate Ore is characterized as a cost effective Manganese Ore, has witnessed a sharp rise in prices this week, tracking strong demand from China. The price for South African Carbonate Ore is around USD 5.2/DMTU CIF India for June'17 shipments. Similarly, Gabon has also increased its price, and is offering 44% grade at USD 5.95/DMTU CIF India.
SteelMint assessed that there is no reason for Maganese Ore prices to go much higher, unless traders further cut supplies. Steel prices have moved down so mills will continue to put downward pressure on raw materials prices, and in the absence of sustained demand growth, a correction will likely occur in a few weeks.
Indian smelters last week lifted their Alloy offers due to the higher manganese ore prices, but they are still hesitating to purchase fresh ores as their alloy sales remain less than robust.
Moreover, China's steel market has been weakening in recent weeks, meaning mills are likely to resist higher prices.
| Domestic and Imported Manganese Ore Price Comparison | ||
| Grade | INR/MT | USD/dmtu |
| MOIL Mn 37.5%, Fe 7% | 11,832 | 4.9 |
| MOIL Mn 44%, Fe 6% | 16,613 | 5.8 |
| Lumps, Mn 38%, South Africa | 12,844 | 5.2 |
| Lumps, Mn 44%, Fe 5%, Gabon | 17,017 | 5.95 |
| Lumps, Mn 46%, Fe 5%, Australia | 18,239 | 6.1 |
