Indian state-run manganese miner MOIL Limited has reduced prices of ores by five percent for December deliveries, company sources said on Friday, December 1.
The reduction will be applicable for ferro grade, SMGR (Mn content 30 percent and Mn content 25 percent), fines and chemical grades.
However, the reduction will not be effective for ore with Mn content of 37 percent.
Industry sources said that the price cut is in response to the rise in imports of manganese ore which have been provisionally estimated at 470,000 mt in October this year, up 29 percent from September.