Ferro Manganese offers corrected upwards on elevated Manganese Ore offers in the global market.
“An increase in USD 1/dmtu in Manganese ore prices adds an extra cost of INR 8,000 in per tonne of Ferro Manganese production,” said a producer source referring to higher import price of Manganese Ores.
Another source revealed that demand remains constant in the market but sellers are holding firm with an expectation of a further rise in prices after the holidays.
SteelMint assessed Ferro Manganese offers at INR 74,000-75,000/MT for both (Ex-Durgapur) and (Ex-Raipur). However, only a few deals are heard to have been concluded at these offers but producers are confident of the same to find acceptance.
The overseas market remains quiet as well on the backdrop of Christmas holidays. The buyers have made their purchases and will start bidding after the holidays.
Export offers are assessed to remain firm at USD 1175/MT FOB Kolkata for 70% grade commodity and USD 1200/MT FOB Kolkata for 75% grade.
On the future outlook, the Ferro Manganese prices are expected to hold in the near-term owing to the festive season as trades will remain thin.
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