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Published on 3/07/2020 2:25:15 PM | Source: Nirmal Bang Ltd

Metal Sector Update 2 July 2020 by Nirmal Bang

Posted in Broking Firm Views - Sector Report| #Nirmal Bang Ltd #Metals Sector #Sector Report

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MOIL cuts manganese ore prices for Q2 FY21 to reduce stocks

Manganese Ore India Ltd (MOIL), the largest manganese ore producer in India, reduced prices by up to 15% with effect from 1 July for the July-Sept quarter. Excess stocks with MOIL and the need to bring parity with seaborne prices, which fell sharply during the period May - June, were the key reasons for the 15% price cut. Prices of ferro-grade manganese were reduced by 15% from June levels, silico-manganese grades (25% and 30%) were reduced by 10% while fines and chemical grades were reduced by 10% each. The lockdown imposed on 22 March to control coronavirus in India led to shutdown of most ferro-alloy industries for nearly a month.

India: OMC keeps base price unchanged for upcoming iron ore fines eauction

OMC has scheduled its next iron ore fines e-auction on 3rd July'20. The auction is being conducted for 370,000 t iron ore fines and the base price of the material offered remains stabl...

 

Indian HR-plate prices stable on low trades

The domestic HR-plate prices were stable during the week amid low inquiries. Also, the prices had witnessed a decline last week owing to higher inventories with the traders. However, t...

 

Indian steel market update- 2 July'20

Indian steel prices remained on downtrend. Rebar prices fell by INR 100-400/t, billet by INR 100-300/t, while sponge iron by INR 100-200/t, as per daily assessment. The re-rollers in m...

 

MOIL cuts manganese ore prices for Q2 FY21 to reduce stocks

Manganese Ore India Ltd (MOIL), the largest manganese ore producer in India, reduced prices by up to 15% with effect from 1 July for the July-Sept quarter. Excess stocks with MOIL and ...

 

NMDC iron ore sales down 3%; production up 10% in June'20

NMDC total iron ore sales for the month of June'20 recorded at 2.48 mn t, down 3% as against 2.55 mn t in May'20. On a yearly basis too, the sales fell by 7% as compared to 2.66 mn t i...

 

India: APL Apollo reports highest ever sales in FY20

APL Apollo Tubes Limited (APL) announced its financial results on 1st July for the quarter and year ended 31st March, 2020. It's sales volumes surged by 22% to 1.6 mn t in FY20 compare...

 

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