High Carbon Ferro Manganese prices remain static in the market, although there was some pickup in demand.
High Carbon (HC) Ferro Manganese prices in the domestic market remain unchanged, but a rise in inquires were seen. Current prices of HC Ferro Manganese in Raipur are settled at INR 58,000/MT (70% Mn). In Durgapur, HC Ferro Manganese is being offered at INR 58,000/MT (70% Mn). Market sources reported of a bulk order for almost 11,500 MT from companies like JSW. These bulk orders would therefore add some spark in the Ferro Manganese market and there would light pull in prices.
[su_quote]“I think the market would not continue on this trend as bulk orders would be coming up soon,” remarked a producer from Raipur.[/su_quote]
Export Market
Overseas demand for Indian origin HC Ferro Manganese is low, with little or no deals concluded in the past week. Export offers for HC Ferro Manganese 70% min is being offered at USD 960 /MT FoB India (East-coast). Prices for 75% min could not be confirmed. There is a bearish sentiment in the export market, and most international buyers hold a wait-and-watch notion.
[su_quote]“There doesn’t seem to be any clear direction except for it remain stable for now,” stated a trader from India.[/su_quote]
SteelMint learnt from market sources that demand for HC Ferro Manganese may increase in the near future as market players expect reasonable demand from end-users.
Exchange Rate: USD 1= INR 59.91
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