High Carbon Ferro Manganese prices remain stable in the domestic market. Market sources reported of resilient demand coupled with limited supply.
HC Ferro Manganese prices continue to remain steady W-o-W on good demand from end-users. In Raipur, Ferro Manganese prices are settled around INR 57,500- 58,000/MT (70%Mn) and INR 62,000/MT (75%Mn). Currently in Durgapur, prices for Ferro Manganese are around INR 57,500/MT (70% Mn). Shortage of material in the Indian market led to rigidity in price levels.
[su_quote]“The market is steady with good demand and currently we’re seeing no changes,” remarked a Raipur based producer.[/su_quote]
Export Market
In the export, demand for Indian-origin HC Ferro Manganese remains high. 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. Export offers remain unchanged as there was good demand from Iran, South-East Asian & European countries.
On the future outlook, SteelMint learned from market sources that prices are to remain at this level for the near-term with tight availability of the material.
Exchange Rate: USD 1=INR 61.17
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