Manganese Ore India Limited (MOIL) has withdrawn the discount on manganese ore as the manganese alloy market has improved.
Earlier in Jan’16 Manganese Ore India (MOIL), had cut prices of various grades by 8-12% for the quarter Jan-March ’16. Again in Feb’16 MOIL had further cut prices of silico grade by 5-7.5% and ferro grade by 10%. Prices were down as manganese ore market outlook was dull and demand had slowed further on weak steel and manganese alloys markets.
In Mar’16 MOIL has withdrawn the discount on manganese ore that was offered in Feb’16 as the manganese alloy market has improved. Silico manganese prices have increased by almost INR 4,500/MT within 3 weeks as demand from steel mills has returned. Also imported manganese ore prices have increased and there is a shortage of imported manganese ore in the market.
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