Indian Ferro alloys market to maintain its upward trend in Mar 

Indian Ferro alloys market seems to maintain an upward trend
in March 2013. Factors which might support the market are as follows:

* Rising prices of
manganese ore in the international market

* Hike in chrome ore prices in the domestic market

* Expectation of short-supply of manages ore in the market

* Power tariffs remaining firm in India

Silico Manganese

Offers for domestic grade 60/14 have slipped slightly from
the offers seen at the beginning of Feb. However, market players do not see any
reason for a further dip in prices in the near term. SiMn 60/14 is quoted at
around Rs 53,200-53,500/MT. 

Speaking about the market a top official from a
leading manufacturing company in Raipur said, “We are not offering 60/14 at
present. We are already booked & fulfilling our previous orders. However,
we do not see any reasons for prices going down any further from the current
levels”.

Export grade 65/15
was heard traded at $1090-1110/MT FOB Vizag. Sharing his views on the export
market, another top official from a leading export firm in Kolkata said,” We
have recently closed a deal at $1110/MT. Market has improved slightly in past
one week.”

Speaking about the raw material scenario, he added, “Traders
in international market have lifted their offers after the Chinese holidays.
They are offering spot Australian 46% lump at $6-6.1 per dmtu. Manganese ore
prices in past few months have moved up thrice. It is also expected that there
will be shortage of manganese ore in the market. So, we hope prices in the
export market to remain firm”.

Ferro Manganese

Ferro manganese prices in the domestic market have moved up
by 15-20% from the past week. Domestic grade HC 70% is quoted at Rs 55,000/MT
& in the export market deals have taken place at $1020 FOB Vizag for HC 75%.

MOIL is conduction an e-auction today to sell HC ferro
manganese & market players are eager to see the prices at which the
tender be closed.

Ferro chrome

Chrome ore prices in the domestic market have been heard to
report a sharp rise in the recent e-auction conducted by OMC. Prices are said
to have moved up by Rs 3000-6000/MT for different grades. However, with ferro
chrome prices already at their peak, it could be a wait & watch situation
for ferro chrome producers before passing on the hike to end users.