NEWS
NON-FERROUS  

India: Imported Manganese Ore Prices Likely to Rise

Global manganese ore prices are likely to rise amid shortage of material at Chinese Ports. South African Carbonate Ore prices have raised due to unavailability of abundant material in the ports.

If prices increase further, the frozen material at the Chinese Stocks becomes available, which makes the market further vulnerable as the risk of liquidation persists owing to the traders who have been waiting to make sell their material above their initial purchase price. High Stocks were accumulated in the Chinese Ports which seeded the perception of oversupply, whereas the real reason behind weak ore prices were the deteriorating sentiments.

Market Participants believe that the recovering alloys prices and improving demand may help the ore prices to pick up. Although, the prices of Australian and Gabonese Ores fell this week, but they are also likely to follow the South African price trend. Prices for Australian Lumps, Mn 46%, Fe 5% are down to USD 6.3/dmtu CIF India. South African Carbonate Ore (Lumps, Mn 37-38%) has increased to USD 5.6/MT CIF India, and Manganese Ore Lumps, Mn 44%, Fe 5% from Gabon is down at USD 5.8/dmtu for August Shipments.

On the future outlook, buyers predict that the prices may rise in line with low inventory at ports. With the rising prices, the problem of freezing and averaging out methods being practiced in the Chinese Ports may reduce. However, the demand for alloys plays a major role in the pricing structure of Manganese Ore.

News No: 5123
Date: 2019/07/11 - 16:52
News Source: SteelMint

India  Importe  Manganese Ore  Chinese Port  material 

Comments:

Leave a Comment:

   
   
   
 

Tata Steel aiming for 30mn t/yr capacity by 2025

Indian private-sector firm Tata Steel is aiming to expand its crude steel capacity to 30mn t/yr by 2025, from around 20mn t/yr currently.
 

Iran Willing to Invest in India Refinery

Iran is willing and ready to invest in the development of Nagapattinam refinery in Southern Tamil Nadu state, a senior Iranian diplomat said in New Delhi on Wednesday.
 

Indian Imported Scrap Market Standstill; Offers Rangebound

SteelMint learned from industry participants that Indian market has remained less viable for scrap imports for yet another week. Offer levels remained rangebound in very limited trades reported so far.
 

India: Entire Quantity Booked in OMC's Koira Sub-grade Iron Ore Fines Auction

SteelMint has learned from the market sources that Odisha’s state-owned miner- Odisha Mining Corporation (OMC) had scheduled an auction for sub-grade iron ore (Fe 56%) fines yesterday (i.e. on 18th Jul'19).
 

India: Arrival of Monsoon Hits Domestic PPGI Prices

SteelMint in conversation with trade participants shared that domestic PPGI prices witnessed further correction by upto INR 750/MT this week as arrival of monsoon season lead to bearish market sentiments and slowdown of trade activities in domestic market.
 

Indian Rebar Trade Prices Fall on Weak Demand

Rebar demand in Indian domestic market continues to slow down amid less buying inquires across major markets and poor lifting. This urged industrialists to adjust the price range as per market requirement and offers have reduced by INR 400-600/MT (USD 6-9) in a week's duration.
Upcoming Events
Publications
 Mines & Metals

Mine & Business Today

 Scrap & Recycling

Ahangan

Our partners