Manganese Ore India Ltd, state run miner has raised its quarterly prices by 9-10% amid rising global prices. Sometime back Australian and Brazilian miners have raised their global manganese offers.
“It is to inform that in line with company's business practice of quarterly revising the prices of manganese ore, the prices of each grade of manganese ore has been increased for the quarter April-June, 2013 by 9 percent over the prices for Jan-March, 2013” MOIL said in a BSE filing.
MOIL's Chairman and Managing Director G. P. Kundargi attributed the hike to increased demand in the domestic market. It takes around 32 kg manganese ore to make one ton of steel.
The company has hiked the raw material prices in line with increase in global rates, Kundargi added.
MOIL has increased the prices by 10% over its previous quarter price. Mn 44 lumps of Ferro Grade is offered at Rs 12,549/t (Basic price) which was earlier Rs 11,513/t .
Leave a Reply