There is actually no movement on Indian ferromanganese
market, and the trading is still thin, according to manufacturer.
An Indian producer of high carbon ferromanganese 70% reported that they quote
the material at INR 51,000/t (USD 1,102/t) ex works on this week, no change
week-on-week, but they only sold 200t of the material during the past three
weeks. “A depressed demand makes him hard to close the large-quantity deal
and the stocks go higher,” trader said.
“The demand has kept weak during the past two months, and many buyers hold few
stocks, therefore once the demand from the end-users picks up, we shall see an
uptick on the price.”
Another Indian producer reported that they quote high carbon ferromanganese 70%
at INR 50,000-51,000/t (USD 1,080-1,102/t) ex works this week, on a par against
that of last week, and they also have a problem of selling out the
material. The source expressed that they also export the material to
foreign customers, while they only got some small-quantity deals from Pakistan
or other Southeast Asian countries, and few enquiries from Japan and Europe.
“In view of the current global economic situation, I hold a conservative
attitude towards the future market, and expect the market may not rebound in
September,” said a manufacturer.
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