Indian Ferro Manganese offers reflect stability while market activity remains low but constant.
“Our inventory levels are low as most of the commodity is getting sold easily aided by low production levels of the commodity,” said a producer source.
Adding to this, another source mentioned that most of the produced commodity is sold but demand is not as high.
A recent increase in Manganese ore offers supported the Ferro Manganese offers but limited demand remains an obstruction.
SteelMint assessed Ferro Manganese offers at INR 74,000/MT (Ex-Raipur) and (Ex-Durgapur), while some bulk deals are heard to be at slightly lower levels.
The overseas market is observed to have become less active, while producers reduced their export offers to USD 1080/MT FOB India for 70% grade and USD 1150/MT FOB India for 75% grade. However, producers are expecting the same to witness a surge in recent days.
On the future outlook, the market participants expect the Ferro manganese offers to remain stable while demand is unlikely to rebound and Ore prices will likely determine the price of Ferro Manganese.
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