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Manganese producer MOIL today hiked ore prices by five per cent across most of its product range for the October - December quarter in line with global trends.
However, the rates were hiked by 10 per cent for a particular grade ore - Mn 25 per cent.
“In line with company’s business practice of quarterly revising the prices of manganese ore, the prices of each grade of manganese ore except for Mn 25 per cent grade has been increased for the quarter October—December, 2013 by 5 per cent over the prices for July—September, 2013,” the company said in a filing to the Bombay Stock Exchange.
MOIL, the country’s single largest manganese ore producer with the capacity of producing 1.1 million tonnes (MT), sells 58 types of products in categories like ferro, silico, chemical etc grades.
The hike has been effected with effect from October 1.
Following the hike, price of first grade lump manganese ore now vary from Rs 343 a tonne to Rs 31,000 per tonne.
Shares of MOIL closed at Rs 208.05, up 1.94 per cent from their previous closed on the BSE.
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