MOIL, India's largest producer of manganese ore has increased
prices by up to 12% eyeing the recent hike in Ferro alloys prices &
expected revival in steel demand.
The state-run company, which supplies 40 percent of India's
manganese demand, raised prices by as much as 12 percent for the three months
ending June, Chairman Kumar Jitendra Singh said today by phone.
India's steel demand is expected to expand 8 percent in the
year ending March 31 from 5.5 percent the previous year, as declining interest
rates fuel purchases of homes, automobiles, appliances and stimulates
government spending.
“We are seeing demand for manganese ore returning after more
than a year,” Singh said. Prices had fell by about 33% in the previous
year, he added.
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