Prices for ferro manganese remains stable on low offers and very few deals
Domestic ferro manganese market remained static on muted demand as buyers were mostly absent and limited production. Ferro manganese market continues to be sluggish ad so there are only very few producers offering the material.
SteelMint assessed current offers for ferro manganese 70% min is around INR 45,000/MT for both Raipur and Durgapur.
The bearish outlook for the steel industry has weighed heavily on the ferro market, with several participants seeing some room for prices to fall on additional cuts in steel output.
Ferro manganese Exports Prices Unchanged; Sales Remain Low
Overseas demand for Indian origin ferro manganese is low although Indian suppliers have kept prices unchanged.
Offers for ferro manganese 70% min at around USD 650/MT FoB India (East Coast), and 75% min. is being offered at around USD 700/MT FoB India.
“It’s a quiet market. FOB offers are steady and there is no movement in trade activity as such,” stated a Kolkata based producer.
SteelMint assessed that buyers are in no hurry to procure material and continue buying hand to mouth.
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