MOIL hikes Manganese Ore prices by 3.5% for September, achieves best August production

Biznextindia : Public sector MOIL has raised prices of Manganese Ore by 3.5% for the month of September 2023. The new price has been made effective from 1^st September.

“The prices of all the Ferro grades of manganese ore, SMGR (Mn-30% & Mn-25%), Fines and Chemical grades have been increased by 3.5% on the prevailing prices since 1^st august w.e.f. midnight of 31^st August and 1^st September 2023. The basic price of EMD has been continued as prevailing since 01.08.2023 w.e.f. midnight of 31.08.2023/ 01.09.2023” the company said in a regulatory filing.

MOIL produced 1.23 lakh tonnes of manganese ore in August 2023, delivering best August production since inception, registering a remarkable growth of 53% y-o-y. Cumulative production for the financial year up to August 2023 has been 6.79 lakh tonnes, which is 44% higher than y-o-y. On the sales front too, performance has been spectacular with sales of 1.11 lakh tonnes for the month, which is more than double than August, 2022. For April-Aug, 2023 period, cumulative growth of 53% has been achieved.