India’s Ferro manganese exports in June were 10,547 MT and till 19 July’15 exports have been recorded at 8563 MT
UAE constituted to around 45% of Indian Ferro Manganese exports in June and July’2015. In June total export to UAE was 4,872 MT, out of which 3,908 MT was exported from Chennai port. Whereas, in July 3,850 MT is exported and all of it from Kolkata port.
Currently, Indian-origin ferro manganese demand in the export market remains dormant. Export offers for HC ferro manganese 70% min is around USD 725/MT FoB India (East Coast) and 75% min is being offered at around USD 790/MT FoB India, unchanged W-o-W.
|
INDIA’S FERRO MANGANESE EXPORT 1-19 JULY’15 (in MT) |
||||
| IMPORTING COUNTRY |
KOLKATA |
VISHAKHAPATNAM |
PETRAPOLE LCS |
TOTAL |
| UNITED ARAB EMIRATES |
3,850 |
– |
– |
3,850 |
| TAIWAN |
648 |
679 |
– |
1,327 |
| NETHERLANDS |
– |
616 |
– |
616 |
| VIETNAM |
378 |
189 |
– |
567 |
| BRAZIL |
405 |
– |
– |
405 |
| CUBA |
– |
308 |
– |
308 |
| SOUTH KOREA |
100 |
180 |
– |
280 |
| ITALY |
280 |
– |
– |
280 |
| JAPAN |
120 |
105 |
– |
225 |
| KUWAIT |
– |
216 |
– |
216 |
| OTHERS |
297 |
132 |
60 |
489 |
| TOTAL |
6,078 |
2,425 |
60 |
8,563 |
Domestic Market
The ferro manganese market has been quiet for some time, with low prices and slack demand. Indian producers said there was no sign of a pickup in inquiries from consumers, as the steel market in general is met with very poor demand.
Currently, grade 70% min is being offered at INR 46000-47,000/MT (Ex-Raipur) and INR 47,500/MT (Ex-Durgapur).
SteelMint assessed that demand was not strong enough to support any price increase. Sellers are experiencing a sluggish market for long and hence Ferro manganese prices are to remain under pressure.
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