MOIL cuts manganese ore prices by 10-15% from March prices of various grades for Q1.
Manganese Ore India (MOIL), the country’s largest and government owned manganese ore producer with an annual production of 11.5 lakh MT, has cut prices of various grades by around 10-15% for the quarter Apr-Jun’17. Prices have been cut despite rising manganese alloys prices in India. MOIL’s Manganese ore prices have been cut to increase the offtake by creating greater buying interest.
The prices of all ferro grades of ore of Mn 44% and above have been decreased by 15%, whereas all other grade prices have been decreased by 10%. However, the prices of manganese ore fines have been kept unchanged, from previous months price.
In the last quarter MOIL had increased prices by upto 15% in Jan’17, then decreased by upto 15% in Feb’17, and then reduced further by upto 25% in Mar’17.
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