MOIL hikes Manganese Ore prices by 3.5% for September, achieves best August production
Biznextindia : Public sector MOIL has raised prices of Manganese Ore by 3.5% for the month of September 2023. The new price has been made effective from 1st September.
“The prices of all the Ferro grades of manganese ore, SMGR (Mn-30% & Mn-25%), Fines and Chemical grades have been increased by 3.5% on the prevailing prices since 1st august w.e.f. midnight of 31st August and 1st September 2023. The basic price of EMD has been continued as prevailing since 01.08.2023 w.e.f. midnight of 31.08.2023/ 01.09.2023” the company said in a regulatory filing.
MOIL produced 1.23 lakh tonnes of manganese ore in August 2023, delivering best August production since inception, registering a remarkable growth of 53% y-o-y. Cumulative production for the financial year up to August 2023 has been 6.79 lakh tonnes, which is 44% higher than y-o-y. On the sales front too, performance has been spectacular with sales of 1.11 lakh tonnes for the month, which is more than double than August, 2022. For April-Aug, 2023 period, cumulative growth of 53% has been achieved.