MOIL hikes manganese ore prices by up to 15%

09 January 2017

Country’s top manganese ore producer MOIL has increased prices of various grades of the commodity by up to 15 percent for January-March quarter. “The company has fixed/revised price of various grade of manganese ore for 4th quarter (January-March, 2016) effective from January 1, 2017,” MOIL said in a filing to BSE.

The prices have been hiked by 10 percent with effect from January 1, on the existing prices since December 12, 2016 of all ferro grades of ore, it said. “The prices have been increased…by 15 percent on all grades of SMGR (Mn 30 pc) and SMGR Low (Mn 25 pc) on the prevailing prices since December 1, 2016. The prices have been increased…by 15 percent on all grades of fines on the prevailing prices since December 1, 2016,” it said. It further said prices have been hiked by 10 percent of all chemical grades ore on the prevailing prices since December 1 last year.

“The prices have been increased…by 15 pc of Electrolytic Manganese Dioxide on the prevailing prices…,” it said. MOIL produces and sells different grades of manganese ore. At present, the company operates 10 mines, six located in Nagpur and Bhandara districts of Maharashtra and four in Balaghat district of Madhya Pradesh.

Source – Moneycontrol