Orissa Manganese & Minerals Limited (OMML) increased their offer before MOIL has disclosed prices for the next quarter.
Private Manganese ore miner, Orissa Manganese & Minerals Limited (OMML), a subsidiary of Adhunik Metaliks has increased Manganese ore prices for 26-34 grade by INR 500/MT and 34+ grades by INR 250/MT w.e.f 1 Apr, 2014. OMML has an annual production of about 0.2 MnT and contributes 9% of the country’s overall Manganese ore production.
When questioned, regarding increase in offers when the general expectation of the market is that MOIL will cut its prices for the next quarter – a company official from OMML stated that there is high demand from Manganese Alloy smelters as the monsoon season is approaching and there is growing need to stock up right now. Also, there is resilient demand for Indian Silico Manganese & Ferro Manganese in the domestic as well as the overseas markets. SteelMint assessed that Ferro Manganese & Silico Manganese prices typically set the direction for Manganese ore prices.
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