India: MOIL Reduces Manganese Ore Prices by Upto 5% for Sep’2019
Manganese Ore India Ltd (MOIL), a Mini Ratna Schedule-A CPSE, under the administrative control of the Ministry of Steel, is the largest producer of manganese ore in the country.
MOIL contributes to 50% of the total production and holds 34% of the Manganese Ore reserves. MOIL has declared prices for this month, effective from 1st Sept 2019.Ore prices have been reduced in line with aggressively falling alloy prices and low demand for the end-product. Thus, many Manganese Alloy Producers have reduced their production quantities and a few have shut down their operation in the market. Ore Prices are also reduced in line with reduction of prices in the international market. Prices of Ores from Major Producing Countries like South Africa and Ghana reduced due to low Chinese demand for ores due to buildup inventory in ports and falling value for Chinese Yuan.
MOIL has fixed/revised prices of different grades of Manganese Ore and other products, effective from 01 September 2019 as under -
The prices of Ferro Grade, SMGR (Mn30% & Mn25%), Fines and Chemical Grades of Ore have been reduced by about 5% on the existing prices prevailing since 01 July 2019.
source: SteelMint
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