India: MOIL Raises Manganese Ore Prices by upto 12.5% For Q4

MOIL hikes manganese ore prices by 10-12.5% over the prevailing Dec'17 prices of various grades for Q4.

Manganese Ore India (MOIL), the country's largest and government-owned manganese ore producer with an annual production of 11.5 lakh MT, has raised prices of various grades by around 10-12.5% for the quarter Jan-Mar'18. Prices have been hiked in line with global manganese ore prices and high manganese alloys prices in India.

Silico Manganese price in the beginning of Dec'17 was at around INR 64,000/MT, and the same is trading at around INR 71,000/MT (Ex-Works).

Imported Manganese ore prices have continued to firm up as healthy demand was coming into the market. Higher seaborne offers are finding less resistance on the back of higher Manganese Alloy prices in China as well as rising manganese ore prices at the port. Australian 46% lump is being offered at around USD 7.2/dmtu CIF India, Gabon 44% ore at USD 6.85/dmtu and South African 36%-37% Carbonate ore at around USD 6.5/dmtu CIF India.

MOIL's Manganese ore prices although have been increased, but the pricing is still competitive, with regards to international prices of Manganese Ore.

MOIL has fixed/revised prices of different grades of Manganese Ore, effective from 01.01.2018 as under.

(1) The prices of Ferro Grade, SMGR (Mn 30% & Mn 25%) and Chemical Grade have been increased by about 12.5 %.

(2) The prices of Fines have been increased by about 10%.

In the last quarter MOIL had increased prices by upto 7.5% in Oct'17, then decreased by 5% in Dec'17.