MOIL cuts Manganese Ore prices upto 7% on weak demand, low international prices

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Biznextindia : Public sector Manganese Ore miner MOIL has reduced its Manganese Ore upto 7 per cent to maintain parity with the international prices. While the price of Ferro-grade has been reduced by 7.5 per cent, the price of Silico Manganese grade (SMGR) has been reduced by 5 per cent.

“The prices of all grades of Ferro grades and Chemical grades have been decreased by 7.5 % on the existing prices prevailing since 1st October. The prices of all grades of SMGR grades (Mn30% & Mn25%) and Fines have been decreased by 5 % on the existing prices prevailing since 1st October” MOIL informed the stock market.

Following this price cut, MOIL lump prices (Mn37%) will reduce to Rs.12,380 per tone, while (44% grade Mn) Manganese Ore  will reduce to about Rs.14,000.

The prices of International Manganese Ore prices have plunged by 7 per cent owing to weak demand and higher inventories at the Chinese Ports.

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