NEW DELHI | Jan 04, 2016: State-run MOIL has slashed prices of various grades of manganese ore by up to 10 per cent for the January-March quarter.
In a filing to the BSE, country's largest manganese producer said it has reduced the prices of all ferro grades of ore by 10 per cent over previous quarter (October-December 2015) prices.
"The price of all grades of SMGR (Mn 30 per cent) and SMGR Low (Mn 25%) is reduced by 10 per cent on the previous quarter prices," the filing said.
The company said that the prices of all grades of fines are slashed by 10 per cent.
The company revises prices of manganese ore on quarterly basis.
"The prices of all grades of chemical grades ore are reduced by 5 per cent on the previous quarter...prices. There is no change in the existing price of the Electrolytic Manganese Dioxide (EMD)," the filing said.
MOIL operates 10 mines, six located in Nagpur and Bhandara districts of Maharashtra and four in the Balaghat district of Madhya Pradesh. The company fulfils about 50 per cent of the total requirement of dioxide ore in India, according to the company's website.
(Source: http://economictimes.indiatimes.com/)