India: MOIL Increases Manganese Ore Prices by Upto 5%

Manganese Ore India Ltd (MOIL), a Mini Ratna Schedule-A CPSE, under the administrative control of the Ministry of Steel, is the largest producer of manganese ore in the country. MOIL contributes to 50% of the total production and holds 34% of the Manganese Ore reserves.

MOIL has declared prices for the next quarter, effective from 1st July 2019.Silico grade prices up by 5% in line with the improving demand, whereas other grades have been kept constant. Imported Manganese Ore prices for Australian Lumps, Mn 46%, Fe 5%, remains constant at USD 6.5/dmtu CNF India. South African Carbonate Ore (Lumps, Mn 37-38%) are being quoted at USD 5.45/dmtu CNF India with a marginal increase on W-o-W basis and Manganese ore Lumps, Mn 44%, Fe 5%, Gabon is offered at USD 5.9/dmtu for Aug-Sep deliveries.

MOIL has revised its prices of Manganese Ore for the quarter Jul-Sept'19, effective from 01.07.2018. The details of the revision are as under.

(1) The prices of Ferro Grade, SMGR (Mn30% & Mn25%), Chemical Grade and Fines have been increased by about 5% on the existing prices prevailing since 01.06.2018. A discount @ 5% will be offered on the prices effective from 01.07.2018 on specific grade of material BGF534 for dispatches during July'2018.

(2) The basic price of Electrolytic Manganese Dioxide (EMD), has been increased by Rs.200/- PMT on the existing price prevailing since 01.04.2018.

(3) Ferro Manganese/Ferro Manganese Slag and some identified grades of Manganese Ore will continue to be sold on e-auction basis as well as through Metal Mandi (M3) of MSTC.