State-owned MOIL conducted an e-auction for 350 t HC ferromanganese of different grades (63-72%) on 28 May’21 from its Balaghat plant, as per SteelMint reports. One lot of 250 t of ferromanganese (70-72%), was booked at INR 86,400/t – 4.35% higher than the floor price. Another lot comprising 50 t of material (68%) was booked at INR 81,400/t -1.24% higher than the base price. However, the remaining 50 t of low-grade (63-64%) material didn’t receive bids. Firm demand resulted in the auction attracting active participation. SteelMint assesses ferromanganese (HC 70%) at INR 90,000/t, ex-Raipur.
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