Diminishing demand for Ferro Manganese has prompted its producers to cut their offers to solicit trade.
“Though production of the commodity is low but so is the demand,” said a producer discussing the downward correction of the offers.
Currently, the prices of Ferro Manganese are at around INR 71,000 (Ex-Raipur) and INR (Ex-Durgapur).
The export prices remain unchanged as there has been hardly any inquiry for Indian Ferro Manganese from overseas. “We have not been receiving any inquiries from overseas for December delivery, post completion of the previous orders,” said another producer referring to the low demand for the commodity in the seaborne market.
Export offers for Ferro Manganese are assessed to be stable at USD 1120/MT FOB India for 70% grade and USD 1170/MT FOB India for 75% grade.
On the future outlook, Ferro Manganese prices are expected to remain stable until demand for the commodity rebounds.
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