No Further Correction in Manganese Iron Ore Prices: MOIL

CNBC Moneycontrol.com reported that MOIL (NSE:MOIL) does not expect manganese prices to drop any further.

The market news is quoted as saying:

90% of manganese ore is consumed in steel production only, so naturally there will be pressure on the prices of the manganese if there is a slowdown in production of steel. However, presently the global production is increasing by 16%.

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