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Indian metals trading company MMTC cut off about 12 months of manganese exports due to domestic supply constraints and is preparing to issue the first tender for manganese exports this year.
The bidding will take place on February 1, and the mining company SK Sarawagi will provide about 25,000 tons of 21-22% manganese concentrate for shipment from February to March. The last bidding of MMTC for manganese ore exports (25,000 tons) was issued in January 2020, but could only be resumed after May because of the new crown shipments. The trading company did not disclose the tender price for its chromium and manganese ores.
India's manganese ore production declined from March to July 2020 due to the New Crown epidemic restrictions, while the heavy rainfall hindered mining operations in several key areas, leading to a sharp rise in domestic prices. China's state-owned manganese ore Moil rose 45% in May last year from April, and the rise in shipping prices also drove prices higher.
As the global steel production slowed and iron ore prices fell on demand from ferroalloy producers, Moil had to lower prices in the months ahead. Compared with May, Moil cut the prices in June by 10%t, prices fell 15% in July, and prices in August to September fe1l 5% from July.
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- [Editor:wenxin]
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