Higher India Steel Demand Prompts Manganese Price Increase

Bloomberg reported that MOIL (BSE:533286) increased manganese prices in response to a rebound in steel demand.

As quoted in the market news:

The state-run company, which supplies 40 percent of India’s manganese demand, raised prices by as much as 12 percent for the three months ending June, Chairman Kumar Jitendra Singh said today by phone. Manganese helps strengthen steel.

Click here to read the full Bloomberg report.