India’s biggest Manganese ore producer – MOIL has reduced its prices today for all grades of Ferro, SMGR grades (Mn 30% & Mn 25%), Fines and Chemical grades Ores by 10% on the prices prevailing since 01.05.2020. Manganese Alloy producers in the domestic market were hopeful that there will be a reduction in the prices by MOIL as the Silico Manganese prices are also falling continuously and the imported Manganese ore prices are also falling after the logistical situation has improved from South Africa.
There was an anticipation among the buyers that MOIL may reduce the prices by more than 15%, as the Silico Manganese prices are down to one month low. This price revision might also indicate a further fall in the Silico Manganese prices. Meanwhile, the reduction was by 10%, the prices of ores continue to be on the higher side as the prices in the month of May were increased by a hefty 45%. Manganese Ore prices are still on the higher side compared to the present levels of Silico Manganese.
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