MOIL hikes Manganese Ore prices upto 7.5% for February

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Bhubaneswar: Public sector Manganese Ore miner MOIL has revised different grades of Manganese ore for the month of February. The new rates have been made effective from 1st of February.

“The prices of all grades of manganese ore having Mn-44% and above have been increased by about 2.5 % and all the other Ferro grades of Manganese Ore having Manganese below 44% have been increased by about 7.5 % as compared to the January prices” MOIL has informed the stock market.

“The prices of SMGR grades (Mn-30% & Mn-25%) and all grades of Fines (except Balaghat Fines) have also been increased by about 7.5 % on the existing prices prevailing since 1st January. Meanwhile, the prices of all Chemical Grades and Balaghat Fines namely (BGF452 & BGF534) have been continued as prevailing since 1st January 2020” it added.

In January also, MOIL had raised raised prices of various grades of Manganese Ore prices upto 7.5%.

Few days back, the PSU had reported disappointing Q3 numbers with net profit slimped 54% to 55.46 Crore.  Net sales declined 23% to Rs 256.22 crore in Q3 December 2019 over Rs 332.77 crore reported in Q3 December 2018.

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