Speaking to CNBC-TV18 Manish Sarda, Director, Sarda Energy, said manganese prices have been moving up these past two months, because of closure of mines in Australia. Manganese Ore (India) from which Sarda sources its ore has hiked prices for three months in a row.
On back of better demand and higher prices, Manish Sarda, Director, Sarda Energy expects the FY17 topline to be better than FY16.
"I am going to take this as a good move by the ministry to put the anti-dumping duty (on steel products) in place," says Manish Sarda of Sarda Energy.
On February 5, the government imposed minimum import prices (MIP) on steel products for a period of six months in a bid to stop the deluge of cheap imports.