High Carbon (HC) Ferro manganese prices are at the same level with good demand from end-users. Reportedly, shortage of the material continues in the market, but situation likely to change soon.
HC Ferro Manganese domestic market remains strong with good demand. In Raipur, Ferro Manganese prices are settled at INR 57,500/MT (70%Mn) and INR 62,000/MT (75%Mn). Currently in Durgapur, prices for Ferro Manganese are around INR 57,000-57,500/MT (70% Mn). Market sources reported that there is extreme pressure of bulk orders and so there is persistent supply tightness in the market. The HC Ferro Manganese market continues to be good since the past one or two month. With good prices achievable for Ferro Manganese in the Indian market, quite a few producers of Silico Manganese in West Bengal have opted to channel around 50% of their production towards producing Ferro Manganese. This however, depends upon high-grade Ore being available- as it is used in making Ferro Manganese.
[su_quote]Looking at the market condition, a producer source from Raipur stated, “The market for Ferro Manganese continues to be good on high demand. There is a huge quantity requirement from SAIL for which supply crisis remains in the open market.”[/su_quote]
Export Market
In the export market, HC Ferro Manganese prices are firm as demand improves. Export offers for HC Ferro Manganese 70% min is around USD 925/MT FoB India (East Coast) and HC Ferro Manganese 75% min is being offered at around USD 1,010/MT FoB India.
[su_quote]“We are getting good inquires from Iran, Korea & European nations. The export market looks positive, same as the domestic market” reported a trader from India.[/su_quote]
On the future Outlook, it is to be seen what direction the market takes as there is strong demand for Indian HC Ferro Manganese, but production of the material is increasing day by day.
Exchange Rate: USD 1= INR 61.01
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