Indian Ferro Manganese Export Increased by 42% in Jul’16

The total quantity of ferro manganese exported from India in month of Jun’16 was 5,968 MT which increased in Jul’16 by 42.4% summing up to 8,499 MT.

SteelMint assessed in Jul’16 exports have increased to countries like U.A.E, Indonesia, U.S.A and Vietnam.

Total Indian Ferro Manganese export to U.A.E was 1,204 MT in Jun’16, which increased to 1,822 MT in Jul16. Similarly in Vietnam a total quantity of 162 MT was exported in Jun’16 which rose in Jul’16 to 640 MT. In Jul’16 the total ferro manganese export to U.S.A was 1,132 MT where as in Jun’16 there were no exports.

To Indonesia a total quantity of 19 MT was exported in Jun’16 which increased sharply to 1,195 MT in Jul’16.

On the other hand, in Jun’16 total export to Iran was 1,307 MT which decreased in Jul’16 to 326 MT.

There is lack of trading activity for Indian ferro manganese in the export market as offer levels from sellers do not match buyer expectation. Current offers for ferro manganese s 70% min stand at USD 760/MT FoB India (East Coast) and 75% min. is around USD 800/MT FoB India. At these price level there is no buying as offers from other countries like South Africa are at much lower level.

In the domestic market ferro manganese 70% min is being offered at around INR 48,000/MT (Ex-Durgapur) and INR 50,000/MT (Ex-Raipur).

Source: Customs Data