Indian ferromanganese export market remains quiet this week owing to the weakening demand. At present, the mainstream price for high carbon ferromanganese 75% is in the range of USD1,200-1,250/t FOB India.
An Indian producer with an output of 1,000tpm of high carbon ferromanganese reported that they quoted high carbon ferromanganese 75% at around USD1,220/t FOB India on Monday, which had no change compared with that of last week, while few new orders were closed. Right now they mainly execute the orders signed before. The source expressed that they are planning to increase the prices, but they perish the thought due to the less demand.
“In order to avoid inventory backlog, I just produce according to the orders for the time being,†said the source.
Another Indian producer who produces 800tpm of high carbon ferromanganese 75% disclosed that they offered the material at USD1,250-1,260/t FOB India on Monday, an increase of USD20/t against that of last week, but no deal was concluded at this price yet. The source expressed that they adjust the offers tentatively in view of the high production cost, but they may encounter the embarrassment to reduce the price to the normal level if the demand does not improve.
“As our stocks go high, we may produce the material just according to the orders,†said the source.
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