MOIL Limited, formerly Manganese Ore India Limited, has cut manganese prices across grades by 15 percent for July-September 2016 deliveries, a company official said on Monday, July 4.
The official said that the 15 percent reduction would be applicable for ore grades with 30 percent and 25 percent manganese but the company would maintain prices of electrolytic manganese dioxide (EMD) unchanged during the July-September period.
According to the official, the price cut would be compared to the average selling price during April-June 2016 and the price revision is being effected in view of the higher supply position in the market.
MOIL is the largest manganese producer in the country, accounting for over 50 percent of domestic supplies in India.