Ferro Manganese prices stable in India at Rs 54,000-55,000 /MT

Ferro Manganese prices in India rolled-back to previous levels prior to price hike, as the increased prices mainly due to the rise in power tariff, did not fetch many buyers. Sellers aren't seeing the kind of buying interest they are hoping for. Current prices of Ferro Manganesein Raipur stand at Rs 52,500 (65% Mn), Rs 54,000 (70% Mn) and Rs 58,500 (75%Mn). In Durgapur, Ferro Manganese is trading at Rs 55,000 (70% Mn). All prices mentioned are basic and per metric ton.

With global steel fundamentals exerting downward pressure on the Ferro Alloys market in India, Ferro Manganese is currently being offered in the range of $1020 – $1050 /MT FoB East-Coast India. Buying interest was weak because of persistent sluggish finished steel demand in potential export markets. “Inquiries have been steady over the past three weeks but fewer deals are being closed”, revealed a market participant.