MOIL hikes prices by 7.5 per cent across product basket for Jan-Mar

NEW DELHI: Manganese producer MOIL today hiked ore prices by up to 7.5 per cent across various products for the January-March quarter.

In line with company's business practice of quarterly revision of prices, the company has fixed price of various grades of manganese ore for the quarter Jan-March, 2014.

"The price of the Ferro grade Manganese Ore has been increased by 3 per cent and price of SMAGR & Fines have been increased by 7.5 per cent over the prices for Oct-Dec, 2013," the company said in a filing to the BSE.

The company said the prices of Electrolytic Manganese Dioxide (EMD) have been increased by 5 per cent for January-March quarter over the preceding quarter.

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.

Following the hike, price of first grade lump manganese ore now stands at Rs 16,079 per tonne.

Shares of MOIL closed at Rs 234.15, down 0.17 per cent from their previous close on the BSE.