MOIL cuts manganese ore prices by up to 20% for September

The prices of all other Ferro grades of manganese ore with Manganese content below Mn-44 percent is decreased by 15 percent on the prevailing prices since August 1.

MOIL Ltd has announced a significant decrease in the prices of various grades of manganese ore and other products with effect from midnight of August 31.

Here are the changes: The prices of all Ferro grades of manganese ore with Manganese content of Mn-44 percent and above have been decreased by 20 percent prevailing since August 1, the company said in a regulatory filing.

The prices of all other Ferro grades of manganese ore with Manganese content below Mn-44 percent is decreased by 15 percent on the prevailing prices since August 1.

The prices of all SMGR (Mn-30 percent & Mn-25 percent), Fines and Chemical is cut by 15 percent, prevailing since August 1.

The basic price Rs.210000/- PMT of EMD has been decreased by Rs. 5000/- PMT to Rs.
205000/- PMT on the prevailing prices since August 1.

Earlier, in May, MOIL increased the prices of various grades of manganese ore and electrolytic manganese dioxide (EMD).

On August 30, shares of the company settled marginally higher by 0.64 percent at Rs 400.60 apiece.

MOIL posted net profit of Rs. 152.35 crore in June 2024 up 75.98 percent from Rs. 86.57 crore in June 2023.