MOIL slashes price of Ferro grades of manganese ore by 15%; stock climbs ~2%

1 Sep 2022 , 11:37 AM

MOIL Limited has announced that in accordance with its business practice of fixing/revising the pricing of Manganese Ore and other goods, the Company has fixed/revised the prices of various grades of Manganese Ore and other products, effective September 1, 2022.

The company informed that the prices of all Ferro grades of manganese ore with a manganese concentration of Mn-44% and higher have been reduced by 15% over the current prices. New prices are effective from September 1, 2022.

Further, the company outlined that the price of all other Ferro grades of manganese ore with manganese concentration less than Mn-44%, SMGR (Mn-30% & Mn-25%), Fines, and Chemical grades have been reduced by 10%.

The company also informed that the base price of EMD has been increased to Rs1,65,000 PMT from the existing Rs1,55,000 PMT.

At around 11.41 AM, MOIL was trading at Rs166.65 up by 1.55% from its previous closing of Rs164.10 on the BSE. The scrip opened at Rs164.10 and touched intraday high and low of Rs167.10 and Rs161.70 respectively.

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