Indian producers of Ferro Manganese have raised offers in the domestic market owing to the weakened Rupee and higher input cost.

Market participants reported that the Ferro Manganese market is witnessing decent inquiries from domestic buyers, while prices remain firm. Current prices of High Carbon (HC) Ferro Manganese in Raipur stand at INR 55,500 (70% Mn) and INR 60,000 -60,500(75% Mn). In Durgapur, HC Ferro Manganese is being offered at INR 56,500. All prices are basic and per metric tonne. A senior official from a major Ferro Manganese producing Company remarked, “Short of any significant change in the supply/demand ratio, there is no real changing coming in terms of pricing, in the foreseeable future owing to the higher Manganese Ore prices.” He further revealed that as there are very few producers producing higher grade (75% Mn) material, it is possible to sell the same grade at a premium. Moreover, Ferro Manganese producers are also facing margin pressure as MOIL has hiked prices by 5-10% across all product offerings for the October-December (Quarter-3).

Export Market
Overseas demand for Indian origin HC Ferro Manganese is low, and Indian suppliers aided by the weak Rupee have further reduced their offers to consummate trade. However, Indian producers have reported of insufficient demand from the overseas market. Export offers for HC Ferro Manganese 70% min. is being offered at USD 870-880 /MT FOB India (East-coast), and HC Ferro Manganese 75% min. is being offered at around USD 950 /MT, FOB India (East-coast).

SteelMint assessed the buying interest to remain low but prices to remain stable on account of low production