Indian Ferro Alloys
market remained dull this week. Prices fell by Rs 500/MT as most of the plants
were keen to clear stocks before Diwali.
Silicomanganese
(SiMn) 60/14 was quoted in the range of Rs 50,500-52,000/MT, depending on the
availability of stocks.
According to a top
official from a major manufacturing company for manganese alloys in India,
“Market is more or less stable. Stocks are being cleared off to maintain
liquidity. A Ferro alloys manufacturers in Eastern India has secured SAIL's
tender to supply silicon manganese (60/14) at Rs 52,000/MT till 20th January
2013. So, there may not be a immediate improvement in the market. But it should
improve after Diwali”.
Ferromanganese
prices in India have also come down by Rs 400-500/MT. HC FeMn 70% is quoted at
Rs 51,000- 51,500/MT. According to a manufacturer, “High competition among
the suppliers & stock clearance drives has reduced the prices”.
The export market
for Ferro Alloys was also stable with slight decrease in prices. SiMn 65/15 was
quoted at $1060-1070/MT FOB Haldia/Vizag. However, appreciating Dollar is
expected to give some support to the market.
“There is not
much activity in the market. Smaller enquiries are being seen. The
current prices are not even break even for us. Producers are really bleeding.
Ukrainians continue to be a tough competition for us. They are supplying SiMn
of 70 grade at $1200/MT and are logistically more viable. So, it is a matter of
concern for us”, said a major Indian exporter.
“Whereas Indian
Ferro manganese suppliers are a bit aggressive now, mostly from the eastern
part especially from Raipur. HC FeMn 75% is quoted at around $1000-1020/MT. But
South African suppliers are able to sell it below $1000/MT”, he added
further.
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