NEW DELHI | Feb 01, 2017: Top manganese ore producer MOIL today announced that it has slashed prices of various grades of mineral by up to 15 per cent for the January-March quarter.
The announcement came almost a month after MOIL raised prices of various grades of the commodity by up to 15 per cent.
The state-owned company has reduced the prices of all ferro grades of ore by up to 10 per cent, MOIL said in a filing to BSE.
"The prices have been decreased with effect from 1.2.2017 by 15 per cent on all grades of SMGR (Mn 30 per cent) and SMGR Low (Mn 25 per cent) on the prevailing prices...," it said.
However, there is no change in the price of Electrolytic Manganese Dioxide (EMD).
"The prices have been decreased w.e.f 1.2.2017 by 10 per cent of all chemical grades ore on the prevailing prices...," it said.
The prices have been brought down with effect from 1.2.2017 by 15 per cent on all grades of fines on the prevailing prices since January 1, 2017, it said.
MOIL produces and sells different grades of manganese ore. At present, the company operates 10 mines, 6 in Nagpur and Bhandara districts of Maharashtra and 4 in Balaghat district of Madhya Pradesh.
(Source: http://economictimes.indiatimes.com/)