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| Exchange Disseminated Time 01/11/2016 18:49:42 | Maithan Alloys Ltd has informed BSE that due to adverse market conditions, the production at the Kalyaneshwari Plant has been cut by 15% with effect from October 31, 2016.
Between July and October 2016, the cost of Imported Manganese Ore, which accounts for the major cost of production has increased by 200%, Imported Coke by 80%, whereas the sales price of Silico Manganese, the finished product, has increased only by 30%.
The production at the plant is likely to be cut further in the near future. |
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