High Carbon Ferro Manganese market remained flat this week as there was slow demand and traders were observed dropping their offers.

HC Ferro Manganese prices in the domestic market remain unchanged from last week. Current prices of High Carbon (HC) Ferro Manganese in Raipur are setteld at INR 55,000 (70% Mn) and INR 60,000 (75% Mn). In Durgapur, HC Ferro Manganese is being offered at INR 55,500 (70% Mn). The HC Ferro Manganese market is witnessing low demand because in the current market scenario most end users prefer Silico Manganese over Ferro Manganese.

[su_quote]A producer from Durgapur stated, “No one has confidence in the market as there is weak demand from end-users.”[/su_quote]

Export Market

India origin High Carbon Ferro Manganese prices remained flat this week in the export market, with most international buyers retreating from the market due to the festive season. Export offers for HC Ferro Manganese 70% min. is being offered around USD 880 /MT FoB India (East-Coast), and HC Ferro Manganese 75% min. is being offered around USD 960 /MT, FoB India (East-Coast).

[su_quote]“We did not have any inquiries this week as many overseas customers are on holiday,” remarked a Raipur based producer.[/su_quote]

SteelMint assessed that HC Ferro Manganese market to remain quiet till month end as buyers were reluctant to commit amid unclear market direction.

Exchange Rate: USD 1= INR 61.92