MOIL has revised prices of various grades of manganese ore with effect from November 1, 2016.
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The company raised the prices of all ferro grades of ore by 30 percent. The prices have been increased by 25 percent on all grades of SMGR (Mn 30 percent) and SMGR Low (Mn 25 percent) on the prevailing prices.
The company hiked prices of fines by 25 percent. It raised prices of all chemical grades by 30 percent.
The existing price of Electrolytic Manganese Dioxide (EMD) has remained unchanged.
MOIL, which produces and sells different grades of manganese ore, reported a decline in net profit by 47.54 percent to ₹47.15 crore on a 0.42 percent rise in net sales to ₹183.53 crore in Q1 June 2016 over Q1 June 2015.
Manganese ore prices have already risen and now these may perhaps go up marginally, industry sources say.
These prices have already reached around $7/dmtu compared to around $4.3/dmtu a month back. Analysts feel prices would stay around $7 or $8 because then a lot of supplies will start coming in but since this cannot happen immediately this rally will be there at least for the next couple of months.
This story is from the November 2016 edition of Steel Insights.
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This story is from the November 2016 edition of Steel Insights.
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