Biznextindia : Public sector Manganese miner MOIL Limited has revised prices of different grades of Manganese Ore and other products for the month of November.
The prices of all Ferro grades of manganese ore with Manganese content of Mn-44% and above have been decreased by 2% for the month of November on the prevailing prices since 1st October.
Meanwhile, the prices of all other Ferro grades of manganese ore with Manganese content below Mn-44%, SMGR (Mn-30% & Mn-25%), Fines and Chemical grades have been increased by 2% for November on the prevailing prices since 1st October. The basic price of EMD has been continued as prevailing since October.
Reason for drop in high grade Ore price :
The company has cut high grade Manganese Ore price due to several factors including drop in Silico-Manganese price and imported Manganese Ore. According to a report by steelmint.com, Manganese Ore prices fell by $0.04/dmtu m-o-m for all grades amid declining manganese alloys demand on higher prices. As per SteelMint’s assessment, prices of grade Mn 37% were at $3.7/dmtu, Mn 44%, $4.4/dmtu, and 46% (lumps, Australian origin) at $4.7/dmtu CNF Vizag, India