11 plants participated in the techno-commercial bid for the latest SAIL tender in which it intends to procure a tentative quantity of 21,500 MT HC ferro manganese.
The SAIL tender which was issued in August for purchase of 21,500 MT ferro manganese, which will meet the requirement of its various plants and for a duration of 4 months (January – April 2016).
The techno-commercial bid revealed that 11 plants had participated in the tender. The reverse auction for the tender is likely to take place in the coming week.
List of Participating Companies with offer quantities:
1) Maithan Alloys (Kalyaneshwari) – 10,000 MT
2) Sarda Energy (Raipur) – 8,000 MT.
3) Sarda Metal (Visakahpatanam) – 8,000 MT
4) Hira Power (Raipur) -10,000 MT
5) Cosmic Ferro Alloys (Durgapur) – 6,000 MT
6) Shri Girja (Raipur) – 4,000 MT
7) Sharp Ferro (Durgapur) – 5,000 MT
8) Shyam Sel (Sambalapur) – 5,000 MT
9) Shyam Ferro (Durgapur) 6,500 MT
10) Castron Technologies (Jharkhand) – 7,000 MT
11) Shree Bholey Alloys (Jharkahand) – 8,200 MT
Ferro Manganese Demand Slack, Offers Cut
Ferro manganese market continued to remain under pressure with dull demand. Sources added that demand continued to be affected as most steel manufacturers continued to prefer using Silico manganese and Stainless steel manufacturers holding back purchases. “Many plants have stopped producing ferro manganese due to weak prices,” stated a producer based in Raipur.
SteelMint assessed current price for grade 70%min is around INR 38,000/MT (Ex-Durgapur) and INR 39,000/MT (Ex-Raipur).
Ferro manganese export offers tapered down on lack of trading interest after the New Year holidays. Export offers for HC ferro manganese 70% min is around USD 580/MT FoB India East Coast and 75% min is being offered at around USD 625/MT FoB India East Cost.
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